Seretide Settlement To Lift Glenmark’s Europe Business
Glenmark can sell its partnered generic rival to GSK’s Seretide Accuhaler dry powder inhaler in certain European markets following a settlement with the UK company. The Indian firm has also shelved divestment plans for its API business, at least for now.
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Glenmark expects its first US manufacturing site to go commercial next year, accelerating growth in that market, while it sets right certain compliance blips back home. The Indian firm is also on course to divest certain non-core assets but notes that bringing in a minority partner for its API unit is not a priority.
Glenmark has ended development of certain in-licensed complex generic assets including generic versions of Abraxane and Suboxone in view of the extremely competitive landscape in the US. The Indian firm says it would rather focus on products where it is an early entrant.
Glenmark-Celon’s generic version of GlaxoSmithKline’s Seretide Accuhaler dry powder inhaler (DPI) has received the go ahead in Germany, upping the competition quotient in a significant market that has generally been seen as tough to penetrate.