INDIA – Glenmark Pharmaceuticals and Cediprof, Inc. have entered into an exclusive supply and distribution agreement for the latter’s prescription drugs in the United States.
Glenmark’s current portfolio consists of 180 products authorized for distribution in the U.S. marketplace and 48 ANDA’s pending approval with the U.S. Food and Drug Administration (FDA).
Cediprof, a part of the Neolpharma Pharmaceutical Group, has granted Glenmark the exclusive right to market, distribute and sell its specific prescription drugs as early as the second half of 2023.
This includes Cediprof’s FDA-approved Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate, and Amphetamine Sulfate Tablets.
Glenmark will have exclusive distribution rights for the mixed salts of a single entity amphetamine product in the strengths of 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg.
These are the generic version of Adderall Tablets in the strengths of 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg, of Teva Women’s Health, Inc.
Moreover, Glenmark will promote the Cediprof pharmaceutical products through its own sales force in the US. The drug is indicated for the treatment of attention deficit hyperactivity disorder.
The distribution agreement seeks to expand patient access to prescription medications in the United States amid ongoing prescription drug shortages affecting patient care and treatment.
On his part, Brendan O’Grady, Chief Executive Officer – Glenmark Global Formulations Business, said: “Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate and Amphetamine Sulfate Tablets is a highly prescribed medication in the United States.”
He underscored that Glenmark will work closely with Cediprof and the Neolpharma Group to alleviate the prescription drug shortage facing the country.
In addition to mutually benefitting the partnering companies, the collaboration will build on the successes of Glenmark in the last fiscal year.
Glenmark reported revenue growth of 9.2 percent, Net Profit After Tax (PAT) of 21.13 percent year-on-year (YoY) jump in its financial results for the third quarter that ended December 31, 2022.
The collaboration will also generate opportunities to attract partners in new markets while meeting the needs of customers, physicians, and their patients in the United States.
“Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio,” added Brendan.
For all the latest healthcare industry news from Africa and the World, subscribe to our NEWSLETTER, and YouTube Channel, follow us on Twitter and LinkedIn, and like us on Facebook.
