Business Daily from THE HINDU group of publications Friday, Mar 14, 2008 ePaper | Mobile/PDA Version |
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Announcements Glenmark starts marketing 2 drugs in US Our Bureau Mumbai, March 13 Drug-maker Glenmark Pharmaceuticals has started marketing arthritis-related drug Nabumetone tablets and anxiety medicine Hydroxyzine Hydrochloride tablets in the US, after having received final regulatory approval. The US Food and Drug Administration approval for different strengths of generic Nabumetone tablets and Hydroxyzine Hydrochloride tablets was through its partnership with InvaGen Pharmaceuticals Inc (InvaGen). In December 2005, Glenmark and InvaGen had entered into a collaboration agreement for the joint development, filing and marketing of seven generic pharmaceutical products for the US. The product list included a mixture of off-patent and patent-protected molecules with cumulative annual sales of $4.1 billion in the US. Glenmark said on Thursday that it will exclusively market and distribute Nabumetone and Hydroxyzine Hydrochloride tablets, while InvaGen will be responsible for its manufacture and supply. All development, regulatory costs and profits on Nabumetone and Hydroxyzine Hydrochloride tablets’ sale in the US will be shared equally between Glenmark and Invagen, a Glenmark note said. IMS Health data, for the 12-month period ending December 2007, estimated the market size of Nabumetone at $97 million and Hydroxyzine Hydrochloride at $60 million. Glenmark shares were down 1.31 per cent on the BSE, at Rs 467.05 More Stories on : Announcements | Pharmaceuticals
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