Plexus Ventures Assists Celon Pharma to Out-License Semi-Exclusive Rights of Generic Advair® Diskus® to Glenmark Pharmaceuticals for 15 countries in Europe

Oct 27, 2015

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.

About Plexus Ventures

Plexus Ventures has earned the title Business Builders in Healthcare over nearly three decades as a leading corporate and business development consultancy for healthcare industry companies. Plexus assists clients of all sizes and capabilities to achieve their strategic business development objectives. Plexus industry professionals are conveniently located in the United States, Europe and Asia-Pacific markets, enabling Plexus to benefit its clients with both local knowledge and global reach.

Trending

News

Plexus Ventures Announces Team Promotions

Philadelphia, Pennsylvania – Plexus Ventures, a prominent corporate and business development boutique for healthcare companies, is pleased to announce two promotions among its team members.Gabriele Tundo, Vice President, has been promoted to Partner. Gabriele joined...

Theresa Covert Walker joins Plexus Ventures as Vice President

Philadelphia, Pennsylvania,  June 11, 2021 – Plexus Ventures is pleased to announce the appointment of Theresa Covert Walker as Vice President based in the Pensacola area.  Theresa joins Plexus after a 27-year career at Merck & Co., bringing significant executive,...