Glenmark gets USFDA nod for Loestrin generic tablets: 22 Nov 2017

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Glenmark Pharmaceuticals Inc., USA has received final approval by the USFDA for HAILEYTM Fe 1/20, the generic version of Loestrin Fe 1/20 Tablets,
of Allergan Pharmaceuticals International Limited.

According to IQVIATM sales data for the 12 month period ending September 2017, the Loestrin Fe 1/20 Tablets market achieved annual sales of approximately $116.8 million.

The company’s current portfolio consists of 129 products authorized for distribution in the U.S. marketplace and 58 ANDA’s pending approval with the USFDA.

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.

The stock is currently trading at Rs 594.4, up by Rs 2 or 0.34% from its previous closing of Rs 592.4 on the BSE. The scrip opened at Rs 591.3 and has touched a high and low of Rs 599.35 and Rs 589.6 respectively.

Glenmark, a manufacturer of branded and generic formulations and APIs, is engaged majorly in dermatology, cardiology, diabetes and respiratory segments. It derived 74% revenue from exports, of which the USA alone contributed 41% in FY17.

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