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Glenmark On Course For Xolair Biosimilar Deal, US Capital Raise For Innovation

 
• By Anju Ghangurde

Glenmark appears close to sewing up a deal for its biosimilar version of Novartis/Genentech's Xolair amid the firm's ongoing focus on partnering out some key assets. It also expects to kick off plans to raise capital in the US for its innovation business in Q4 of fiscal 2019-20.

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Glenmark Plans To Sew Up String Of Alliances Over Near Term • Source: Shutterstock

Glenmark Pharmaceuticals Ltd., which aims to seal at least one partnership for its innovative or specialty assets in fiscal 2019-20, appears to have made significant headway towards one such potential deal, for its proposed biosimilar version to Novartis AG and Genentech Inc.'s Xolair (omalizumab).

Glenmark had last year announced encouraging Phase 1 results suggesting similarity in pharmacokinetic, pharmacodynamic, safety and immunogenicity profiles between GBR310 (its proposed biosimilar) and the reference product. The Indian firm has now indicated that the potential partner is expected to invest and run Phase III studies and commercialize the drug

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