Glenmark in tie-up for US HIV-diarrhoea drug
Mumbai-based Glenmark Pharmaceuticals will introduce a new medicine to counter diarrhoea induced by Human Immunovirus (HIV), the organism that causes AIDS, by 2010.business Updated: Dec 24, 2008 20:17 IST
Mumbai-based Glenmark Pharmaceuticals will introduce a new medicine to counter diarrhoea induced by Human Immunovirus (HIV), the organism that causes AIDS, by 2010.
Globally, excluding the US, the drug has a $80 million (Rs 384 crore) market. Most HIV and AIDS-related drugs are either subsidised by governments or international organisations such as the World Health Organisation.
Analysts said the drug could be potentially healthy for the company’s topline, being a niche drug and a patented, new
product. The drug is being fast-tracked by the US Food and Drugs Administration (FDA), and is likely to hit the market in 140 countries including Africa and Asia, where AIDS is a major concern.
“The fast track status for the molecule granted by the US-FDA and the burgeoning issue of HIV-associated diarrhea provides a huge opportunity for our organisation,” said Glen Saldanha, MD and CEO, Glenmark.
The drug would be launched in collaboration with Napo Pharmaceuticals, its US-based inventor, and Salix Pharmaceuticals, a US-based marketing company.
Additionally, Glenmark will also supply the API, or the basic chemical of the drug, from its plants in India and expects a further Rs 100 to 150 crore in revenues — though the company refused to confirm this figure.