Philadelphia, Pennsylvania – Plexus Ventures announces the successful completion of a recent out-licensing project on behalf of Celon Pharma.
Additional details regarding the transaction, taken from Glenmark’s October 23, 2015 press release are included below:
Glenmark announces Strategic Development & Licensing Agreement with Celon, Poland for generic Seretide Accuhaler® in Europe
Mumbai, October 23, 2015: Glenmark Pharmaceuticals Europe Ltd. (Glenmark) today announced that it has entered into a Strategic Development & Licensing Agreement with Celon Pharma S.A. (Celon) to develop and market a generic version of GlaxoSmithKline’s Seretide Accuhaler® product – Fluticasone / Salmeterol dry powder Inhaler in Europe upon commercialization. As per the terms of the agreement; Glenmark has obtained Semi-exclusive Marketing & Distribution rights of the product across 15 European countries including Great Britain, Germany, Belgium, the Netherlands, Italy, Sweden, Norway and Romania among others. Celon on the other hand, shall receive an upfront payment; followed by certain milestone payments during various stages of the product’s development from Glenmark; including Royalties on sales. The distribution agreement was concluded for a period of 10 years, with an option of a two-year extension.
“The deal reinforces Glenmark’s growing capabilities in the respiratory segment and is a significant step forward towards building a strong respiratory franchise in Europe. We are pleased to collaborate with Celon given their established track record with this inhaler product in Europe;” said Glenn Saldanha, Chairman & MD, Glenmark Pharmaceuticals Limited.
Maciej Wieczorek, CEO of Celon Pharma S.A. said “For many years we have invested heavily in developing technologies for inhalation drugs, and this agreement is yet another proof that the direction we have chosen is correct. The common experiences of both companies in the area of manufacturing, commercialisation and distribution of inhaled drugs will translate into greater availability of combination therapy in a DPI inhaler in many European countries.”
The Fluticasone / Salmeterol dry powder Inhaler is a combination product for the treatment of chronic obstructive pulmonary disease (COPD). Seretide® marketed by GlaxoSmithKline is among the top 3 pharmaceutical brands in Europe with sales of USD 2.24 billion as per IMS.