Glenmark Pharma announced today morning that it has received marketing approval for its fixed-dose combination nasal spray Ryaltris in 13 countries across the EU and UK.
The company is set to launch Ryaltris directly in the markets of Czech Republic, Slovakia, Poland, and the UK while in the rest of Europe, it will be marketed by the Menarini Group as part of its exclusive licensing agreement with Glenmark.
Ryaltris is used for treating seasonal and perennial allergic rhinitis in adults and children over 12 years of age, relieving symptoms of allergic rhinitis, including stuffy nose, runny nose, nasal itching, sneezing, as well as itchy, red and watery eyes.
The company has also partnered with Hikma Pharmaceuticals PLC and Bausch Health for the commercialisation of Ryaltris in the US and Canada respectively.
In April this year, Glenmark concluded the DCP regulatory procedure in Europe, enabling approval in 17 countries across EU and UK.
The stock price, which had closed yesterday at Rs.509.20, opened today at Rs.513.90 and went on to hit an intraday high at Rs.518.15. Its 52-week high stands at Rs.690.60.