Glenmark obtains global exclusive commercial marketing and distribution rights for the product
Glenmark Pharmaceuticals, USA has entered into a strategic development, license and commercialisation agreement with Particle Sciences to develop and market a generic version of Celgene’s ABRAXANE product – paclitaxel protein (albumin)-bound particles for injectable suspension.
As per the terms of the agreement, Glenmark has obtained Global Exclusive Marketing and Distribution rights of the product upon commercialisation. Particle Sciences will develop this product exclusively for Glenmark, and shall receive certain milestone payments during various stages of the product’s development from Glenmark, including royalties on sales. Development of the product has been initiated for the US market and Glenmark intends to file the ANDA in FY19. The product will be subsequently filed in other key markets across the globe.
“The partnership is a significant development in Glenmark’s complex generics strategy and we are pleased to collaborate with Particle Sciences given their strong technical capabilities and understanding of particulate injection products. This is a challenging product to develop and we expect it to remain a limited competition opportunity.” said Robert Matsuk, President – North America and Global API, Glenmark Pharmaceuticals.
ABRAXANE marketed globally by Celgene has reported sales of $967 million world-wide and $654 million in the US in the calendar year 2015. As per IMS MAT December 2015, ABRAXANE has registered sales of $990 million world-wide and $669 million in the US.