Gland Pharma added 1.23% to Rs 1,801.35 after the drug manufacturer received approval from the United States Food and Drug Administration (USFDA) for Latanoprost Ophthalmic Solution.
The approved drug is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Xalatan, Latanoprost Ophthalmic Solution held by UPJOHN US 2 LLC.This product is used for the treatment of high eye pressure/intraocular pressure (IOP) in patients with openangle glaucoma or ocular hypertension.
The drug maker expects to launch this product through its marketing partners in FY25.
According to IQVIA, the product had US sales of approximately $111.6 million for the twelve months ending December 2023.
Gland Pharma is one of the largest and fastest growing injectable-focused companies, with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India, and other markets. It has a wide range of injectables, including vials, ampoules, pre-filled syringes, lyophilized vials, dry powders, infusions, oncology, and ophthalmic solutions. The company also pioneered Heparin technology in India.
On a consolidated basis, the firms net profit declined 15.74% to Rs 163.53 crore despite a 2.36% increase in revenue from operations to Rs 1,405.83 crore in Q2 FY25 over Q2 FY24.
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