Glenmark Pharmaceuticals Ltd has entered a deal with Iceland''s Actavis and its Polish affiliate Biovena to buy seven pharmaceutical brands in Poland, for an undisclosed sum. Glenmark is eyeing to build a branded business in Central and Eastern Europe.
The acquisition, executed via Glenmark''s Czech subsidiary Medicamenta, will give the Mumbai-based drug company entrance to the Polish market, touted to be the largest pharma market in Central and East Europe.
A large part of the taken over branded generic drugs belong to the central nervous system segment. The marketing and distribution will eventually be handled by Glenmark''s sales force, adding that the company was set to unveil four of its products in the Polish market. Medicamenta will hitherto get all marketing authorisations and trademark rights in Poland for the products, and will sell the products directly to the Polish market via its appointed distributors.
The acquisition, executed via Glenmark''s Czech subsidiary Medicamenta, will give the Mumbai-based drug company entrance to the Polish market, touted to be the largest pharma market in Central and East Europe.
A large part of the taken over branded generic drugs belong to the central nervous system segment. The marketing and distribution will eventually be handled by Glenmark''s sales force, adding that the company was set to unveil four of its products in the Polish market. Medicamenta will hitherto get all marketing authorisations and trademark rights in Poland for the products, and will sell the products directly to the Polish market via its appointed distributors.
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