Glenmark Pharma signs licensing deal with Canadian company

Glenmark Pharmaceuticals has signed licensing deal with Immanence-IDC to distribute the latter’s anti-aging cosmeceutical range of products in eight countries

Glenmark Pharmaceuticals has signed an exclusive licensing deal with Canada-based Immanence-IDC to distribute the latter's anti-aging cosmeceutical range of products in eight countries.

The company's 10-year licensing agreement with Immanence-IDC will span eight countries, including India, Brazil, Mexico, South Africa, Egypt, Vietnam, Malaysia and Thailand.

"This association marks a new beginning for us in one of the fastest growing segments in dermatology," the Glenmark Pharmaceuticals COO, Arvind Vasudeva, said in a statement.

He said the association would enable the firm to consolidate its leadership position in dermatology across these markets.

"This 10-year agreement with Glenmark will open new markets for us and through a network of more than 1.5 lakh dermatologists, it will allow us to reach more than 1.5 billion people," the Immanence-IDC board chairman, Eric Dupont, said.

Commenting on the tie-up, the Immanence-IDC president and CEO, Luc Dupont, said with the agreement with Glenmark, the company's products would be available in over 12 countries. "Our goal is to establish a presence in over 25 countries over the next two years," he added.

On Thursday, Glenmark Pharma ended 0.36% up at Rs304.10 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.11% to 19,591.18.

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Unichem gets USFDA approval for anti-seizure drug

Unichem Laboratories has received approval from the US health regulator to market Divalproex Sodium Delayed Release tablets in the US market

Unichem Laboratories said it has received approval from the US health regulator to market Divalproex Sodium Delayed Release tablets, used for seizure disorders, in the US market.

The company has got the US Food and Drug Administration (USFDA) for Divalproex Sodium Delayed Release tablets in strengths of 125mg, 250mg and 500mg, Unichem Laboratories said in a filing to the Bombay Stock Exchange (BSE).

The company already has nine drugs in the US that have been approved by the USFDA, it added.

On Thursday, Unichem ended 4.61% up at Rs204.05 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.11% to 19,591.18.

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Atul Auto closes year with record 60% higher sales

Atul Auto sales for the financial year 2010-11 stood at 19,406 units as against 12,345 units during FY-09-10, an increase of 60%

Three wheeler manufacturer, Atul Auto Ltd said that its auto sales for the financial year 2010-11 stood at 19,406 units as against 12,345 units during FY-09-10, an increase of 60%.

The increase in sales registered by Atul Auto is the result of its continuous increase in the supply of best suited vehicles for rural and semi rural India, adopting innovative technology and improving quality of vehicle life.

The production and sales of Atul Auto's vehicles has been on constant high since 2008. Commenting on the upward growth trend, Vijay Kedia, director, Atul Auto said, "At the beginning of the year we had projected a growth of 50% on sales but we beat our own estimate and achieved 60% growth due to better market condition and increasing dealer network."

He further said, "We have grown substantially higher than the industry which grew 18%. We sold 5,931 units in the last quarter of the FY10-11 against 4,217 units last year 2009-10. We see great market potential for our vehicles. Taking into consideration the growing demands, especially in the semi-urban and rural markets, the sales are likely to grow substantially up further in current year."

On Thursday, Atul Auto ended flat at Rs129.80 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.11% to 19,591.18.

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