Glenmark Pharma gains after launching generic drug in US

Glenmark Pharmaceuticals rose 0.87% to Rs 918.95 at 9:25 IST on BSE after the company announced the launch of first and only generic version of Zetia in the United States.

The announcement was made after market hours yesterday, 12 December 2016.

Meanwhile, the BSE Sensex was up 10.41 points, or 0.05%, to 26,528.63.

On BSE, 4,044 shares were traded in the counter so far, compared with average daily volume of 52,814 shares in the past one quarter. The stock had hit a high of Rs 935 and a low of Rs 916 so far during the day.

Glenmark Pharmaceuticals Inc., USA announced the availability of ezetimibe, the first and only generic version of ZETIA (Merck) in the United States for the treatment of high cholesterol.

The availability of ezetimibe is the result of a licensing partnership with Par Pharmaceutical, an Endo International plc operating company, with whom Glenmark will share profits. Glenmark and its partner, Endo will be entitled to 180 days of generic drug exclusivity for ezetimibe as provided for under the FD&C Act. Endo International plc is a global specialty pharmaceutical company.

Ezetimibe is indicated as adjunctive therapy to diet for the reduction of elevated total cholesterol (total-C), low-density lipoprotein cholesterol (LDL-C), and apolipoprotein B (Apo B) in patients with primary (heterozygous familial and non-familial) hyperlipidemia.

According to IMS Health data for the 12-month period ending October 2016, annual US sales of Zetia 10 mg were approximately $2.3 billion.

Glenmark Pharmaceuticals (GPL) is a research-driven, global, integrated pharmaceutical company.

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