Glenmark Pharma rises on receiving ANDA final approval for tadalafil tablets

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Glenmark Pharmaceuticals gained 0.86% to Rs 503.05 after the drug maker said it received US drug regulator's final approval for tadalafil tablets.

Tadalafil tablets are generic version of Cialis tablets of Eli Lilly and Company. According to IQVIA, sales data for the 12 month period ending November 2020, the Cialis tablets achieved annual sales of approximately $125.5 million.

Glenmark also received tentative approval from United States Food & Drug Administration (USFDA) for Gabapentin Enacarbil extended-release tablets. The product is generic version of Horizant extended-release tablets of Arbor Pharmaceuticals, LLC. The Horizant market achieved annual sales of approximately $99.5 million.

Further, the drug maker received tentative approval for Apremilast tablets, a generic version of Otezla tablets of Amgen Inc. Otezla tablets achieved annual sales of approximately $2.7 billion.

Glenmark's current portfolio consists of 167 products authorized for distribution in the U.S. marketplace and 44 ANDA's pending approval with the USFDA.

Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across generics, specialty and over-the-counter (OTC) business with operations in over 50 countries. Glenmark's key therapy focus areas globally are respiratory, dermatology and oncology.

The drug maker's consolidated net profit slipped 8.4% to Rs 233.99 crore on 5.2% increase in net sales to Rs 2,908.12 crore in Q2 September 2020 over Q2 September 2019.

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