Glenmark rises over 2 per cent on getting tentative ANDA approval for Dabigatran Etexilate capsules

Glenmark Pharmaceuticals Limited informed on Monday that it has received a tentative approval for abbreviated new drug application (ANDA) Dabigatran Etexilate capsules 75 mg, 110 mg and 150 mg. 

The above-mentioned capsules, which are used to slow & inhibit the formation of blood clots, are said to be the generic version of Pradaxa® capsules of 75 mg, 110 mg and 150 mg of Boehringer Ingelheim Pharmaceuticals, Inc. The sale of these capsules achieved annual sales of approximately US $550.9 million. Dabigatran Etexilate capsules can also be used to prevent blood clots from forming after the hip replacement surgery. 

Glenmark Pharmaceuticals, which is a well-known global pharmaceutical company, has 166 products in its portfolio, authorised for distribution in the US market. The company is mainly into development of new chemical entities (NCE) as well as new biological entities (NBE). It mainly focuses on the manufacture of products across therapeutic areas of dermatology, respiratory and oncology along with, developing and marketing branded & generic formulations. 

At 10.43 am on Monday, Glenmark Pharmaceuticals was trading at Rs 527.45, up by 2.21 per cent, which is quite close to its intraday high of Rs 531.50 as against its intraday low of Rs 516.05. It has a 52-week high of Rs 572.70 while its 52-week low is Rs 168 on BSE.