The drug firm said its US-based unit has launched Fingolimod capsules, used to treat multiple sclerosis, in the American market.
Fingolimod capsules, 0.5 mg, is the generic version of Gilenya capsules, 0.5 mg, of Novartis Pharmaceuticals Corporation.According to IQVIA sales data for the 12-month period ending September 2022, the Gilenya capsules, 0.5 mg market achieved annual sales of approximately $1.8 billion.
Commenting on the launch, Sanjeev Krishan, president, Glenmark North America said, "We are very pleased to bring to market a lower cost alternative to Gilenya Capsules, 0.5 mg. This launch confirms our commitment to provide quality and affordable pharmaceutical products to patients."
Glenmark Pharmaceuticals' current portfolio consists of 176 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.
Glenmark Pharmaceuticals is an innovation-driven global pharmaceutical company with a presence across specialty, generics and OTC businesses. It focuses on the key therapeutic areas of respiratory, dermatology and oncology.
The company's consolidated net profit declined 37.20% to Rs 192.53 crore on a 7.67% fall in sales to Rs 2,720.10 crore in Q1 FY23 over Q1 FY22.
Shares of Glenmark Pharmaceuticals rose 1.16% to Rs 404.40 on Monday, 31 October 2022.
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