Glenmark agreement with Merck Serono

Thebullishtrends: Glenmark shares are trading at Rs.478. Glenmark Pharmaceuticals Ltd (GPL) has announced that the Company’s wholly owned subsidiary Glenmark Pharmaceuticals SA, Switzerland has reached a mutual amicable settlement with Merck Serono (a division of Merck KGaA) for termination of agreement on GRC 8200.

"Glenmark Pharmaceuticals S.A. (Switzerland), a wholly owned subsidiary of Glenmark Pharmaceuticals Ltd (GPL) and Merck Serono, a division of Merck KGaA, have reached a mutually amicable settlement to terminate their on-going agreement on GRC 8200. Under these terms, Glenmark would get the global rights back from Merck Serono for Glenmark's DPPIV inhibitor Melogliptin, GRC 8200, a treatment for Type 2 diabetes in Phase II of clinical development.