Ban on nitroglycerine won't impact revenues: Glenmark

Glenmark Pharmaceuticals today said the USFDA order asking it to stop selling unapproved nitroglycerine tablets, used to relieve chest pain, will not have a significant bearing on earnings in the next fiscal.

"We believe that the sales from nitroglycerin tablets will not have a significant bearing on our FY 2010-11 financial numbers," the company said in a statement without disclosing the revenues from the tablets.

The company said it is "evaluating the situation and will take appropriate measures."

The US Food and Drug Administration (USFDA) on Tuesday issued warning letters to Glenmark Generics (the US subsidiary of Glenmark) and Konec Inc to stop marketing unapproved nitroglycerin tablets, stating they have not been proven safe and effective.

The tablets are placed under the tongue to relieve chest pain or to stop a heart attack and are marketed in 0.3 mg, 0.4 mg, and 0.6 mg dosages, the agency said.

Glenmark shares were trading at Rs 240.15, up 2.08 per cent from previous close at the National Stock Exchange during mid-day trade.