Leading drug maker Glenmark Pharmaceuticals has informed that it has signed agreements with Iceland-based Actavis to acquire seven established medicine brands in Poland to kick start its polish operations.

The deal would be carried out through Glenmark's Czech subsidiary Medicamenta, which acquired seven brands from Actavis and Biovena (an affiliate of Actavis in Poland) for an undisclosed sum.

Under the terms of the agreement, Medicamenta will receive all marketing authorizations and trademark rights in Poland for the products, and will sell the products directly in the Polish market, through its appointed distributors, and will market the products through Glenmark Pharmaceuticals Sp. z o.o.

In June 2008, Glenmark had established its new sales and marketing organisation, Glenmark Pharmaceuticals Sp. z o.o., and appointed Wojciech Smoczynski as country manager in Poland and Ukraine.

The acquisition would provide Glenmark with first access to the growing pharmaceutical market in Central and East Europe. The company expects the brands to boost its revenue by $15 million in the fiscal year ending March 2009.

Pharmaceutical market in Poland in 2007 was about 7 billion dollars and registered a growth of about 8% over the previous year.