Glenmark Pharma Thursday said it has received approval from Russia's Healthcare Ministry to market Momate Rhino metered nasal spray as an over-the-counter (OTC) product for the treatment of seasonal and perennial allergic rhinitis in patients above 18 years of age.
"Russia is an important market for us and we are consistently looking to expand product offerings. We believe OTC is an interesting space and this approval for Momate Rhino nasal spray will help enhance our presence in this segment," Glenmark Pharmaceuticals Senior Vice President and Head Asia, Russia & CIS region Csaba Kantor said.
Glenmark Pharmaceuticals Vice President and Business Head - Russia - Oxana Pozdnyakova said, allergic rhinitis affects a significant number of people in Russia.
"The approval to market Momate Rhino as an OTC product paves way for the company to widen patient accessibility of this medicine, which is particularly important at the start of the allergy season," Pozdnyakova said.
Shares of Glenmark Pharmaceuticals were trading 1.19 per cent higher at Rs 642.85 apiece on BSE.
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