Drug firm Glenmark Pharmaceuticals on Monday said it has received approval from the Ministry of Healthcare, Russia, to market Montlezir film-coated tablets used for treatment of allergic rhinitis.
Montlezir is expected to be available in the Russian market in third quarter of financial year 2019-20, Glenmark said in a BSE filing.
"Russia is one of the key markets for us and we are consistently looking to expand our product portfolio," Glenmark Pharmaceuticals Senior Vice President and Head - Asia, Russia and CIS region Csaba Kantor said.
Glenmark has built strong capabilities in the respiratory space and is among the leading players in this therapy area across several markets globally, he added.
According to IQVIA, in the respiratory space, Glenmark continues to secure a strong position and ranked fourth amongst the companies present in the expectorants market in Russia as of MAT July 2019, the company said.
Montlezir is a prescription product for the treatment of seasonal and perennial allergic rhinitis in patients above 15 years of age, it added.
Shares of Glenmark Pharmaceuticals were trading at Rs 322.85 apiece on the BSE, down 3.14 per cent from its previous close.
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