Business Daily from THE HINDU group of publications Friday, Aug 25, 2006 |
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Corporate
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Announcements Glenmark to ship epilepsy drug Our Bureau
The company's announcement followed the approval received from the US Food and Drugs Administration to market oral tablets of Gabapentin in the 600 mg and 800 mg dosages. Gabapentin is the active ingredient in Pfizer's blockbuster drug Neurontin, and several Indian companies are part of the race to get a slice of this market. But the drug's generic market size is $328 million, a note from Glenmark said. Glenmark manufactures the drug at its solid-oral formulation facility in Goa and will commence shipments immediately, the company said. Gabapentin is the fourth Abbreviated New Drug Application filed by Glenmark from the Goa facility to receive US regulatory approvals, after Fluconazole, Zonisamide and Meloxicam. The latest approval will take the number of generics from Glenmark in the US market to 10, including two controlled substances: Codeine Phosphate launched in June and Morphine Sulphate, which is in the process of being launched, the note added. Glenmark shares were down 2.21 per cent, at Rs 334.05, on the Bombay Stock Exchange.
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