"Glenmark now has three molecules in Phase II and expects another three to enter clinical testing over the next six months. Pain management is a large unmet need around the world and GRC 6211 presents an excellent opportunity to capture this large market," company managing director and chief executive officer Glenn Saldanha said.
Glenmark aims to be an early launcher in this class as it targets to launch the molecule in 2011 and is in discussions with potential partners for licensing this compound, the company said. The timing of licensing would depend on the terms of the deal and the ability to get co-promotion tights for some of the regulated markets.
Molecules that are under development by other companies in the same category include that of Merck, GSK and Pfizer. Glenmark's Swiss subsidiary, Glenmark Pharmaceuticals SA, has completed Phase I clinical trials for GRC 6211, an antagonist compound for a range of pain indications like naturopathic pain, osteoarthritis and urinary incontinence.
The company hopes to complete a study on dental pain in Europe by December this year. Pursuant to it, the company plans to initiate a large Phase IIB study in the first quarter of calender year 2008 for naturopathic pain and osteoarthritis, Glenmark said in a communique to the Bombay Stock Exchange.