Glenmark receives approval to market Momate Rhino in Russia

Glenmark Pharma, a research-led, integrated global pharmaceutical company has received approval from the Ministry of Healthcare, Russia to market Momate Rhino ( Mometasone Furoate 50mcg) metered nasal spray as an over-the-counter (OTC) product for the treatment of seasonal and perennial allergic rhinitis in patients above 18 years of age.

Glenmark has a strong presence in the area of respiratory and is among the leading players in this therapy in several markets globally. Russia is an important market and the company is expanding its product offerings in the OTC space. This approval for Momate Rhino nasal spray is expected to enhance the company’s presence in this segment.

Allergic rhinitis affects a significant number of people in Russia. The approval to market Momate Rhino as an OTC product paves way for the company to widen the accessibility of this medicine.

According to IQVIA, Glenmark ranked 41st in the retail segment of the Russian pharmaceutical market as of MAT February 2019. In the respiratory space, Glenmark is ranked 4th among the companies present in the expectorants market in Russia as of MAT February 2019. The company is ranked 10th in the retail dermatology market in the country.

On Thursday, the stock of Glenmark was trading at Rs .642.65 per share, up 1.07 per cent on the BSE.