Glenmark Pharmaceuticals, a research‐driven, global, integrated pharmaceutical organization has informed the exchanges today that it has been granted final approval by the United States Food & Drug Administration (USFDA) for Metformin Hydrochloride Extended‐Release Tablets USP, 500 mg and 1000 mg, the generic version of Glumetza Extended‐Release Tablets, 500 mg and 1000 mg, of Salix Pharmaceuticals Inc.
According to IQVIATM sales data for the 12‐month period ending September 2019, the Glumetza Tablets, 500 mg and 1000 mg market achieved annual sales of approximately $226.7 million.
Glenmark’s current portfolio consists of 164 products authorized for distribution in the U.S. marketplace and 44 ANDA’s pending approval with the USFDA. 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.
Stock view:
Glenmark Pharmaceuticals Ltd is currently trading at Rs343.45 down by Rs6.15 or 1.76% from its previous closing of Rs349.60 on the BSE.
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