Business Daily from THE HINDU group of publications
Friday, May 30, 2008 ePaper | Mobile/PDA Version
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Business Daily from THE HINDU group of publications Friday, May 30, 2008 ePaper | Mobile/PDA Version |
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Update at 1300 hrs (IST)
Corporate Glenmark gets approval for marketing two products in US MUMBAI: Pharmaceutical firm Glenmark on Friday said that it has received ANDA approval for its anti-inflammatory and anti-diabetic drugs and will soon commence marketing and distribution of these products in the US market. Glenmark Generics Ltd (GGL), a subsidiary of Glenmark Pharmaceuticals, has received the ANDA approval for Mometasone Furoate Ointment, Mometasone Furoate Cream and Metformin Hydrochloride tablets, the company said in a filing to the BSE. GGL now has a portfolio of 32 generic products for the US market and over 35 ANDAs awaiting USFDA approval process. The total sales for the two Mometasone Furoate products in the 12-month period ending March 31, 2008 were over $29 million, while, Metform in Hydrochloride used in the treatment of diabetics had a total sales of over $158 million for the year ended March 31, 2008 as per IMS Health. Mometasone would be manufactured at Glenmark's USFDA approved Baddi unit in Himachal Pradesh. GGL had earlier acquired the US manufacturing rights for a line of Chobetasol Propionate dermatology products through a US-based pharmaceutical development com pany. Shares of the company were trading at Rs 681, down 0.01 per cent on BSE in afternoon trade. - PTI
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