Glenmark Pharmaceuticals Enters Exclusive Agreement with Cyndea Pharma
Glenmark Pharmaceuticals, a global pharmaceutical company, announced that it has entered into a development, license, manufacture and commercial supply agreement with Cyndea Pharma S.L., granting exclusive rights to use their technology for developing generic, soft-gelatin capsule formulations of certain pharmaceutical products.
“As many as 70 percent of small molecule pharmaceuticals are difficult for the body to absorb, which leads to challenges in developing effective oral formulations for these medicines,”1 said Robert Matsuk, President, North America, Global API at Glenmark Pharmaceuticals. “Because of these challenges, the use of soft-gelatin capsules have wide applications to improve absorption and bioavailability of these medicines. Accessing this formulation and manufacturing technology with our strategic partner Cyndea will support Glenmark’s continued mission of providing important and cost-effective generic medicines to patients.”
Under this agreement, Glenmark receives exclusive rights to the United States and Canada markets for these soft-gelatin formulations in exchange for sharing development costs and profits from future sales. In addition, the agreement provides for the companies to add further soft-gelatin product candidates for development and commercialization, as new branded, soft-gelatin, capsule-based drug products become available in the marketplace.
“Glenmark is an ideal partner to expand our soft-gelatin technology into much needed therapeutic categories and markets,” said Gonzalo Ballesteros, Managing Director of Cyndea. “Cyndea has made significant financial investments in both its new Madrid-based research and development facility and state-of-the-art production facility located in Soria, Spain. Cyndea is a global, market-leading supplier of generic, prescription, soft-gelatin capsules in the world and our partnership with Glenmark provides expanded access into North America.”