Glenmark receives ANDA approval for Colesevelam Hydrochloride Tablets

Glenmark Pharmaceuticals informed the bourses that it has been granted the final approval by the USFDA for Colesevelam Hydrochloride Tablets, on Monday. The company has already begun supplying the product to the US market.

Glenmark’s current portfolio contains of 135 products official for distribution in the US market and 62 ANDA’s are pending for approval with the USFDA.

Glenmark is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity). The Generics business segment of Glenmark services the requirements of the US and Western European markets. The API business sells its products in over 80 countries, including the US, various countries in the EU, South America and India.

On Monday, the stock opened at Rs. 502.65 per share and touched an intra-day high and low of Rs. 507.55 and Rs. 495, respectively, on the BSE.