Glenmark Pharma gets US regulator nod for generic version of Prograf; stock opens positive

Glenmark Pharma informed the bourses today before the market hours that it has received final approval from United States Food & Drug Administration (USFDA) for Tacrolimus capsules USP, 0.5 mg, 1 mg & 5 mg, the generic version of Prograf 1 capsules, 0.5 mg, 1 mg & 5 mg of Astellas Pharma.

The above-mentioned drug, Prograf (Tacrolimus), is an immunosuppressant used together with other medicines to prevent the body from rejecting a heart, liver, or kidney transplant. 

According to the data from IMS Health, for the twelve-month ending September 2020, Prograf capsules, 0.5 mg, 1 mg & 5 mg market achieved the annual sales of approximately US$ 286.8 million.

The company has a current portfolio of around 166 products authorised for distribution in the US marketplace and another 45 that are still pending ANDA approval.

At 9.50 am on Wednesday, the stock of Glenmark Pharmaceuticals was trading at Rs 480.50 per share, up by 1.25 per cent or Rs 5.95 per share on BSE, against a 0.94 per cent gain in the benchmark index. Its 52-week high is recorded at Rs 572.70 and the 52-week low is Rs 168 on BSE.