Glenmark Pharmaceuticals reaches settlement agreement with Pfizer for Axitinib Tablets, 1 mg and 5 mg

Glenmark Pharmaceuticals Inc., USA (Glenmark) and Glenmark Pharmaceuticals Limited have reached a settlement agreement with Pfizer Inc., PF Prism C.V., and PF Prism IMB B.V. (Pfizer) for Axitinib Tablets, 1 mg and 5 mg, the generic version of their Inlyta® Tablets, 1 mg and 5 mg. Glenmark had previously announced it received tentative approval by the United States Food & Drug Administration (U.S. FDA) fortheir generic Axitinib Tablets, 1 mg and 5 mg on November 30, 2020.

According to IQVIA™ sales data for the 12-month period ending September 2022, the Inlyta® Tablets, 1 mg and 5 mg market achieved annual sales of approximately $644.5 million*.

Glenmark's current portfolio consists of 177 products authorized for distribution in the U.S. marketplace and 47 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 Limited was last trading in BSE at Rs. 411.55 as compared to the previous close of Rs. 410.00. The total number of shares traded during the day was 41862 in over 1611 trades.

The stock hit an intraday high of Rs. 413.45 and intraday low of 405.90. The net turnover during the day was Rs. 17151824.00.

Source : Equity Bulls

Keywords

GlenmarkPharmaceuticals INE935A01035 SettlementAgreement Pfizer AxitinibTablets