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news.Glenmark Pharmaceuticals Europe has signed a strategic development and licensing agreement with Celon Pharma to develop and market a generic version of GlaxoSmithKline's Seretide Accuhaler product used for treatment of chronic obstructive pulmonary disease (COPD).
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Under the deal, Glenmark has obtained semi-exclusive marketing and distribution rights of the product across 15 European countries including the UK, Germany, Belgium, the Netherlands, Italy, Sweden, Norway, Romania and others.
Celon is eligible to receive an upfront payment, certain milestone payments during several stages of the product’s development from Glenmark, including royalties on sales.
The 10-year distribution deal has an option for a two-year extension. The fluticasone/salmeterol dry powder inhaler is a combination product for the treatment of COPD.
Glenmark Pharmaceuticals chairman and MD Glenn Saldanha said: "The deal reinforces Glenmark’s growing capabilities in respiratory segment and is a significant step forward towards building a strong respiratory franchise in Europe."
Celon Pharma CEO Maciej Wieczorek said: "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."