Glenmark Pharma's subsidiary has secured marketing authorisation in Germany for generic version of GlaxoSmithKline's Seretide Accuhaler, used to treat asthma.
"Fluticasone/Salmeterol DPI is a combination product for the treatment of asthma and chronic obstructive pulmonary disease (COPD). Glenmark will sell the product in Germany under the name 'Salflutin'," the company said in a BSE filing.
Glenmark Pharmaceuticals Executive Vice President and Business Head of Europe and Latin America, Achin Gupta, said that upon launch, generic Fluticasone/Salmeterol DPI will be Glenmark's first inhalation product available in Germany.
"There is huge potential for the product in Germany and we are optimistic that it will help enhance growth of the European business," he added.
Glenmark had entered into a strategic development and licensing agreement with Celon Pharma S.A. to develop and market a generic version of GlaxoSmithKline's Seretide Accuhaler product - Fluticasone/Salmeterol dry powder inhaler in 15 European countries.
The company has already launched this product in Denmark, Sweden and Norway, it added.
Quoting IQVIA data, Glenmark Pharma said Fluticasone/Salmeterol dry powder inhaler (DPI) had sales of USD 844 million in Europe in the 12-month period ending March 2018.
Shares of Glenmark Pharma were trading 2.31 per cent higher at Rs 699 apiece on BSE.