MAHWAH, N.J., March 1, 2017 /PRNewswire/ -- Glenmark Pharmaceuticals Inc., USA, and Evestra, Inc. have completed a strategic development, license and commercialization agreement to develop and market a generic version of Merck's & Co.'s NuvaRing® product – etonogestrel/ethinyl estradiol vaginal ring – designed to allow women access to a more affordable birth control option.
Development on the vaginal ring product is currently under way and the two companies expect to file an Abbreviated New Drug Application (ANDA) in fiscal 2019.
Evestra will develop this product exclusively for Glenmark for the U.S. market, and will receive certain milestone payments during various stages of the product's development, including royalties on net sales.
"This is an important U.S.-based strategic partnership for Evestra," said President and CEO Ze'ev Shaked. "By aligning our efforts, we expect to make great strides in improving women's healthcare and access to options that are significantly more accessible due to their lower costs. We are excited to work with Glenmark."
Glenmark has secured exclusive marketing and distribution rights for the product, including an option to commercialize two additional Evestra vaginal ring products, for the U.S. market.
"Bringing high-quality and affordable options to market has been a core commitment for Glenmark since the beginning," said Robert Matsuk, President – North America and Global API, Glenmark Pharmaceuticals Ltd. "The partnership with Evestra underscores that focus, and expands our portfolio into a leading non-daily contraceptive option prescribed to millions of women in the U.S."
Merck's IMS Health NuvaRing® registered sales of $768 million in 2016 in the U.S. market.
NuvaRing® (etonogestrel/ethinyl estradiol vaginal ring) is an estrogen/progestin combination hormonal contraceptive (CHC) indicated for use by women to prevent pregnancy.
About Glenmark Pharmaceuticals
Glenmark Pharmaceuticals is a research-driven, global integrated pharmaceutical company with operations in more than 80 countries. Glenmark has a diverse pipeline with several compounds in various stages of clinical development primarily focused in the areas of oncology, respiratory disease, and dermatology. Glenmark has improved the lives of millions of patients by offering safe, affordable medications for nearly 40 years. For more information visit www.glenmarkpharma.com.
Evestra, Inc. is an emerging San Antonio-based biopharmaceutical research and development company with a therapeutic focus in women's healthcare. Evestra's competitive advantage is based on its founders' extensive experience in pharmaceutical R&D, combined with a proven track record in commercializing women's healthcare products. For more information about Evestra, visit http://www.evestra.com/.
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SOURCE Glenmark Pharmaceuticals