Glenmark Pharma trades flat despite launching bioequivalent version of Spiriva Handihaler

Glenmark Pharmaceuticals Ltd, a leading pharmaceutical company, announced today the launch of Tiotropium Bromide dry powder inhaler (DPI) under the brand name - Tiogiva in the UK. This DPI is the bioequivalent version of Spiriva Handihaler, which is manufactured by Boehringer Ingelheim, a pharmaceutical company based in Germany.    

Tiogiva is used for treating chronic obstructive pulmonary disease (COPD), a long-term condition that causes lung inflammation, damages lung tissue, and a narrowing of the airways thereby, making it difficult to breathe. Studies have found a number of variations in this condition, although, not much is known about what causes them or the best way to manage them.  

At present, the company is planning to launch the product (Tiotropium DPI) across markets in Western Europe under the brand name ‘Tiogiva’ in Ireland, Sweden, Finland & Norway under the name ‘Tavulus’ in Denmark, Spain & Netherlands and ‘Tiotropium Glenmark’ in Germany.   

Further, as per the data of IQVIA, in a period of one year ended September 2020, Tiotropium DPI had a market size of US$ 450 million in the European Union. 

At 11.43 am, the share price of Glenmark Pharmaceuticals Ltd was trading at Rs 645.05, which is an increase of 0.22 per cent from its previous day’s closing price of Rs 643.65 on BSE.