Glenmark Pharmaceuticals receives ANDA approval for Fingolimod Capsules, 0.5 mg

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (U.S. FDA) for Fingolimod Capsules, 0.5 mg, the generic version of Gilenya®1 Capsules, 0.5 mg, of Novartis Pharmaceuticals Corporation.

According to IQVIATM sales data for the 12 month period ending April 2020, the Gilenya® Capsules, 0.5 mg market2 achieved annual sales of approximately $2.1 billion*.

Glenmark's current portfolio consists of 164 products authorized for distribution in the U.S. marketplace and 44 ANDA's pending approval with the U.S. FDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.

Shares of GLENMARK PHARMACEUTICALS LTD. was last trading in BSE at Rs.405.35 as compared to the previous close of Rs. 398.7. The total number of shares traded during the day was 317487 in over 7935 trades.

The stock hit an intraday high of Rs. 409.9 and intraday low of 398.7. The net turnover during the day was Rs. 129019870.

1All brand names and trademarks are the property of their respective owners.
2Market includes brand and all available therapeutic equivalents
*IQVIATM National Sales Perspectives: Retail & Non-Retail, April 2020

Source : Equity Bulls

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