Glenmark Pharmaceuticals is entering into the branded dermatology segment in the United States. The branded portfolio for the US market will be developed and commercialized by Glenmark Therapeutics Inc., USA, a wholly owned subsidiary of Glenmark Holding, SA. This represents an important step in the company's long-term strategy to build a robust branded business in the US, alongside the company's existing and successful generics business.
In support of this new business, Glenmark Therapeutics recently acquired the rights to seven branded dermatology products from Exeltis USA, Inc. The acquisition includes Ecoza® (econazole nitrate) topical foam, 1%, an antifungal medicine indicated for the treatment of interdigital tinea pedis or athlete's foot, and Recedo® topical gel, a leading prescription product for scar management. The cumulative sales of the seven acquired brands were $9 million US.
All the acquired products are currently approved and marketed in the US, giving Glenmark Therapeutics an immediate entry into the topical branded products segment. In addition, Glenmark Therapeutics intends to launch other dermatology products over the next 12 months.
"Glenmark Pharmaceuticals has been committed to the area of dermatology globally for more than two decades. With our significant presence in the generic dermatology market in the US, this acquisition will give us a leading edge as we enter into a new segment of branded products. It will also serve as the foundation for commercialization of future branded assets in the US," said Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals.
Glenmark Therapeutics' acquisition also include the Exeltis dermatology field force, which manages well-established relationships with healthcare professionals. Glenmark plans to have a field force of about 30 sales representatives for the branded division.