Gland Pharma receives tentative approval for cangrelor for injection

Gland Pharma on Wednesday announced that it received a tentative approval from the USFDA for cangrelor for Injection, single-dose vials.

Cangrelor is used during percutaneous coronary intervention (PCI) for reducing the risk of heart attacks, repeat coronary revascularization, and stent thrombosis (ST) in patients who have not been treated with another P2Y12 platelet inhibitor.

Gland Pharma believes that it is amongst one of the first to file for the product and may be eligible for 180 days of generic drug exclusivity. The drug company will launch the product with its marketing partner on receipt of final approval.

Hyderabad-based Gland Pharma is one of the largest and fastest growing injectable-focused companies, with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India and other markets.

The injectables manufacturer's consolidated net profit rose 38% to Rs 302.1 crore in Q2 FY22 from Rs 218.9 crore in Q2 FY21. Revenue from operations increased by 30% YoY to Rs 1,080.5 crore during the quarter.

Shares of Gland Pharma closed 0.5% lower at Rs 3,530.30 on Wednesday.

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