Hot Pursuit     19-Jan-24
Glenmark Life rises on inking pact with Japanese pharmaco
Glenmark Life Sciences gained 3.31% to Rs 782.40 after the firm said that it has signed a master supply agreement (MSA) with a Japanese innovator pharmaceutical company with global presence in Europe, United States and Asia.
According to agreement, Glenmark Life will manufacture API in the therapeutic area of urinary anti-spasmodic, to supply to the global innovator.

The pharma company will leverage its expertise in API manufacturing to support the global pharmaceutical innovator's initiative in the field of urinary anti-spasmodic therapeutics. As part of this collaboration, product portfolios of various affiliates of the global innovator may also be added in the future.

The API for the finished formulation will be supplied to all major regulated markets such as United States, Europe and Japan. The estimated commercial value of this project is expected to be around $5 million.

Dr. Yasir Rawjee, MD & CEO of Glenmark Life Sciences said, “This collaboration is part of our continued efforts in the CDMO space to contribute to the advancements in healthcare while expanding our global footprint. As a reliable partner we will combine our API knowledge in cGMP manufacturing and extend our expertise in regulatory filing with global agencies across multiple geographies. Going forward I am sure this will not only consolidate our strategic partnership but also open doors for other collaborations.”

Glenmark Life Sciences is a developer and manufacturer of select high-value, non-commoditised active pharmaceutical ingredients (APIs) in chronic therapeutic areas, including cardiovascular disease, central nervous system disease, pain management, and diabetes.

The company's net profit increased 11.1% to Rs 118.74 crore on 16.9% rise in revenue from operations to Rs 595.36 crore in Q2 FY24 over Q2 FY23.

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