The row between Glenmark Pharmaceuticals Ltd. and GlaxoSmithKline (GSK) has come to a resolve, a statement said on Monday. The conflict which was covering patent actions regarding the usage of GSK's Malarone, malaria treatment tablets, finally came to an end with the settlement of the litigations.

Malarone is a generic version from GSK and it had filed a suit against Glenmark.

As per the agreement between the two companies, Glenmark will now be allowed to market Malarone tablets under a license of GSK. But for this, it will have to pay a royalty. The agreement becomes operational from the third quarter of this fiscal.

In other good news for Glenmark, its subsidiary, Glenmark Generics has also got an in-approval nod from Indian market regulator, SEBI to come up with its IPO.

The pharmaceutical company is planning to raise Rs. 630 crore by selling 12-15 per cent of its share. It will also go for green-shoe option.

The money thus raised will be used to reduce Glenmark's debt and the rest of it will go for the expansion process of the company in the US.