Glenmark Pharmaceuticals on Monday announced that it has received final approval from the United States Food & Drug Administration for clindamycin phosphate foam.
Clindamycin phosphate foam is the generic version of evoclin foam of Mylan Pharmaceuticals Inc. According to IQVIA sales data for the 12 month period ending July 2021, the Evoclin Foam market achieved annual sales of approximately $12.0 million. Clindamycin is used to treat severe acne in adults and children who are at least 12 years old.Glenmark's current portfolio consists of 173 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 were trading 0.11% higher at Rs 495.50 on BSE.
Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across generics, specialty and over-the-counter (OTC) business with operations in over 50 countries. The drug company posted a 20.7% rise in consolidated net profit to Rs 306.53 crore on 27.6% increase in net sales to Rs 2,946 crore in Q1 FY22 over Q1 FY21.
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