Glenmark Pharma climbs nearly 3 per cent on receiving USFDA approval

Glenmark Pharmaceuticals Limited announced on Wednesday that the company has received final approval from United States Food & Drug Administration (USFDA). Reacting to the news, its share rose nearly 2 per cent on BSE. 

The company received a nod for Topiramate extended-release capsules in the strengths of 25 mg, 50 mg, 100 mg, 150 mg & 200 mg.  It is a generic version of Qudexy XR capsules of Upsher-Smith Laboratories, LLC. 

Topiramate is used alone or with other medications to prevent and control seizures. Qudexy XR capsules achieved annual sales of approximately USD 120.8 million for the 12-month period ending December 2020 according to IQVIA sales data. 

Glenmark Pharmaceuticals’ branded generics business has a significant presence in markets across emerging economies, including India. Its key therapy focus areas globally are respiratory, dermatology & oncology. 

The current portfolio of the company consists of 169 products authorised for distribution in the US marketplace. Besides, it has 43 ANDA’s pending approval with USFDA. 

At 11.56 am today, its share was trading 2.71 per cent higher at Rs 500.55 on BSE. The share recorded an intraday high of Rs 504.10 and an intraday low of Rs 489.30 on BSE.