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Glenmark announces grant of substitution and successful launch of generic Seretide® Accuhaler® in Denmark

Posted On: 2018-05-16 13:09:32

Glenmark Pharmaceuticals Europe Ltd. (Glenmark) today announced that it has launched a generic version of Seretide® Accuhaler® in Denmark. This is Glenmark's first inhaled respiratory product launch in Europe.

Glenmark is the first generic company to receive regulatory approval for substitution in Denmark for its generic of Seretide® Accuhaler®

Glenmark had entered into a strategic development & licensing agreement with Celon Pharma S.A. (Celon) to develop and market a generic version of GlaxoSmithKline's Seretide Accuhaler® product - Fluticasone/Salmeterol dry powder inhaler in 15 European countries. Fluticasone/Salmeterol dry powder inhaler is a combination product for the treatment of asthma and chronic obstructive pulmonary disease (COPD).

Glenmark has already received National Marketing Authorizations for the product in Sweden, Finland, Norway and Iceland.

"Denmark is the first country in Europe where Glenmark has launched its generic Fluticasone/Salmeterol Dry powder Inhaler (DPI) and we plan to commercialize this product across the Nordics in the near future. The grant of substitution in Denmark for this complex product affirms Glenmark's capabilities in the respiratory segment," said Achin Gupta, Executive Vice President & Business Head of Europe and Latin America, Glenmark Pharmaceuticals Ltd.

According to IQVIA data, Fluticasone / Salmeterol Dry powder Inhaler (DPI) had sales of USD 864 million in Europe in the 12 month period ending September 2017.

Shares of GLENMARK PHARMACEUTICALS LTD. was last trading in BSE at Rs.506.25 as compared to the previous close of Rs. 503.45. The total number of shares traded during the day was 35837 in over 1065 trades.

The stock hit an intraday high of Rs. 516 and intraday low of 500. The net turnover during the day was Rs. 18166853.


Source: Equity Bulls

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