Glenmark Pharmaceuticals receives ANDA approval for Arformoterol Tartrate Inhalation Solution, 15 mcg/2 mL, Unit-Dose Vials

Glenmark Pharmaceuticals Ltd (Glenmark) has received final approval by the United States Food & Drug Administration (U.S. FDA) for Arformoterol Tartrate Inhalation Solution, 15 mcg/2 mL, Unit-Dose Vials, the generic version of BROVANA®1 Inhalation Solution, 15 mcg/2 mL, of Sunovion Pharmaceuticals Inc. Arformoterol Tartrate Inhalation Solution, 15 mcg/2 mL, Unit-Dose Vials will be manufactured in the company's North American manufacturing facility based in Monroe, North Carolina, and marks the company's first nebulizer approval.

According to IQVIATM sales data for the 12 month period ending April 2021, the BROVANA® Inhalation Solution, 15 mcg/2 mL market2 achieved annual sales of approximately $437.9 million*.

Commenting on the launch, Sanjeev Krishan, President, Glenmark North America said, "We are very excited to be one of the first generic companies to receive approval for such an important product for our customers. This also marks our third approval from our state-of-the art manufacturing facility in Monroe in 2021, demonstrating our capability to offer high quality medicines with affordable access across multiple dosage platforms."

Glenmark's current portfolio consists of 172 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.638.7 as compared to the previous close of Rs. 640.7. The total number of shares traded during the day was 59093 in over 2505 trades.

The stock hit an intraday high of Rs. 646.85 and intraday low of 636.3. The net turnover during the day was Rs. 37856446.

Source : Equity Bulls

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