Glenmark Signs License Agreement With Medicis

India-based Glenmark has entered into an exclusive license agreement with Medicis Pharmaceutical to co-develop and commercialise a specialty pharmaceutical product in North America. The product will be used to treat acne vulgaris.

Reportedly the agreement will focus on developing a topical pharmaceutical product from Glenmark’s pipeline.

Under the terms of the agreement, Glenmark is eligible to receive one time payment of $5m from Medicis and is also eligible to receive an additional payments on achieving certain development milestones and royalty upon commercialisation.

Glenn Saldanha, managing director and chief executive officer of Glenmark Pharmaceuticals, said: “Both Glenmark and Medicis have extensive experience in the dermatological market segment and this collaboration will allow us to bring a promising new treatment alternative to patients.”