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Glenmark Pharmaceutical launches the biosimilar of Adalimumab in India

Posted On : 2018-01-04 04:43:50( TIMEZONE : IST )

Glenmark Pharmaceutical launches the biosimilar of Adalimumab in India

Glenmark Pharmaceuticals Limited is pleased to announce the launch of the biosimilar of Adalimumab under a licensing agreement with Cadila Healthcare Ltd., the Zydus group for the treatment of Plaque Psoriasis and Rheumatoid Arthritis. Developed by the researchers at the Zydus Research Centre, the biosimilar of Adalimumab was first launched by Zydus in 2014 and is manufactured at Zydus Biologics, the dedicated facility for product development and manufacturing of biologics and monoclonal antibodies.

The biosimilar will be marketed by Glenmark under the brand name ADALY. Globally, Adalimumab is the number one selling pharmaceutical product. ADALY (Adalimumab) is a TNF inhibiting, anti-inflammatory biologic that binds to tumor necrosis factor (TNFalpha) and reduces inflammatory response.

Glenmark is a leader in dermatology in India and has been at the forefront of introducing new molecules to meet various unmet needs of patients. Recently the company introduced Aprezo (Apremilast) for psoriasis. The launch of ADALY marks the launch of Glenmark's first biosimilar in Dermatology. Biologics are gaining importance in managing various diseases and Glenmark has a strong focus on developing its own novel biologics. The launch of ADALY is a step towards building a presence in this area. With ADALY, Glenmark will also serve the rheumatoid arthritis patient population.

"Being leaders in the dermatology segment in India, ADALY is an important launch. The launch of this biosimilar will significantly enhance our presence in this segment. We are encouraged by the recent launch of Apremilast for psoriasis in India and the launch of ADALY reaffirms our commitment towards meeting unmet needs of patients and providing the latest treatment options. ADALY will be available to patients in India at a fraction of the global cost", says Sujesh Vasudevan, President - India Formulations, Middle East and Africa at Glenmark.

Shares of GLENMARK PHARMACEUTICALS LTD. was last trading in BSE at Rs.589.45 as compared to the previous close of Rs. 592.25. The total number of shares traded during the day was 54318 in over 2183 trades.

The stock hit an intraday high of Rs. 594 and intraday low of 583.5. The net turnover during the day was Rs. 31977680.

Source : Equity Bulls