Page 7 - Glenmark Pharmaceuticals

Glenmark Pharma slashes price of breast cancer drug Trastuzumab

Glenmark Pharmaceuticals Ltd on Thursday said it has slashed the price of breast cancer drug Trastuzumab by bringing its brand Trumab at Rs 15,749 for a 440 mg vial from Rs 54,000 earlier. Trastuzumab is used in the treatment of a particular type of breast cancer -- HER2-positive, and the company markets its version in India under the brand name 'Trumab'. "The new price of the drug being marketed under the brand name 'Trumab', will be Rs 15,749 per 440 mg vial. This price reduction will bring the per mg cost of Trumab to around Rs 35, making it the most affordable treatment option for HER2-positive breast cancer in the country," Glenmark said in a statement. Most of the existing Trastuzumab brands in the market are priced in between Rs 40,000 to Rs 54,000 per 440 mg vial, the company said, adding the cost of Trastuzumab treatment has been a major barrier for many patients in India. "Considering that a patient needs to undergo a minimum of 18 cycles (12 months) of treatment, the ...

Sekhmet Pharmaventures, Nirma in race to acquire Glenmark's API business

In the last three months, GLS's share price has risen by 52% from Rs 386 in anticipation of a transaction

Glenmark posts Q4 net loss at Rs 403 cr on one-time exceptional charge

Glenmark Pharmaceuticals on Friday reported a consolidated net loss of Rs 403 crore for the March 2023 quarter due to an exceptional charge of Rs 800 crore on account of the settlement of litigation related to a generic product in the US. The Mumbai-based drug maker had reported a net profit of Rs 172 crore for the January-March quarter of 2021-22. The company's consolidated revenue for the fourth quarter stood at Rs 3,374 crore compared to Rs 3,019 crore in the year-ago period, Glenmark Pharmaceuticals said in a regulatory filing. The net profit for FY23 stood at Rs 377 crore against Rs 994 crore in FY22. Its consolidated net revenues stood at Rs 12,990 crore in 2022-23 against Rs 12,305 crore in 2021-22. The profit for FY 2022-23 was lower primarily on account of the settlement of the litigation related to generic Zetia in the US, the drug maker said. "We delivered yet another year of robust performance, despite the challenging global macro-economic environment. Our India busin

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Pharma companies seek price ceiling exemption for low-cost medicines

The industry and the government are on the same page on trade margin rationalisation, however, the industry wants it to be implemented in a phased manner

Glenmark Life Sciences profit surges 48% on API boost in March quarter

Revenue from Glenmark Life Sciences's API business, which accounts for about 90% of total revenue, grew 15.5% from last year

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Glenmark to pay $87.5 million to settle lawsuits over a product in US

Three plaintiff groups collectively representing all of the claims against the company and Merck are referred to as the Direct Purchaser Plaintiffs, the Retailer Plaintiffs, and the End-Payor Plaintif

Glenmark to pay $87.5 mn to settle lawsuits over a generic drug in US

Glenmark Pharmaceuticals on Tuesday it will pay USD 87.5 million to three plaintiff groups to settle multiple antitrust and consumer protection lawsuits in the US related to a generic drug. There were multiple antitrust and consumer protection lawsuits, including a class action, consolidated in the Eastern District of Virginia against the company and its subsidiary Glenmark Pharmaceuticals Inc. in connection with generic Zetia, a drug for the treatment of cholesterol, the Mumbai-based drug maker said in a regulatory filing. The lawsuits alleged that in 2010, Glenmark entered an anticompetitive agreement to settle patent infringement litigation involving a patent related to ezetimibe (the active ingredient in Zetia) with Schering Corporation and MSP Singapore Company LLC. The trial for the case began on April 19, 2023 in the US courts. Three plaintiff groups collectively representing all of the claims against the company and Merck are referred to as the Direct Purchaser Plaintiffs,

Glenmark gets USFDA nod for generic drug with 180-day exclusivity

Glenmark Pharmaceuticals on Thursday said it has received an approval from the US health regulator to market a generic medication to treat plaque psoriasis. The company has received final approval from the US Food & Drug Administration (USFDA) for Calcipotriene and Betamethasone Dipropionate Foam, the generic version of Leo Pharma's Enstilar, Glenmark Pharma said in a statement. The USFDA noted that the Mumbai-based drug firm was the first abbreviated new drug application (ANDA) applicant with a paragraph IV certification for Calcipotriene and Betamethasone Dipropionate Foam, it added. "Therefore, with this approval, Glenmark is eligible for 180 days of generic drug exclusivity for Calcipotriene and Betamethasone Dipropionate Foam," the drug firm said. According to IQVIA sales data for the 12-month period ended January 2023, Enstilar Foam (0.005 per cent/0.064 per cent) achieved annual sales of around USD 93.6 million. Shares of the company were trading 0.49 per cent down at Rs ..

Glenmark gets USFDA nod to market generic medication to treat schizophrenia

Glenmark Pharmaceuticals on Monday said it has received approval from the US health regulator to market a generic product used to treat schizophrenia and in some cases to control severe nausea. The company has received nod from the US Food & Drug Administration (USFDA) for Prochlorperazine Maleate Tablets USP, 5 mg and 10 mg, the Mumbai-based drug maker said in a statement. The company's product is the generic version of GlaxoSmithKline's Compazine tablets, it added. According to IQVIA sales data for the 12-month period ending January 2023, the Compazine tablets 5 mg and 10 mg achieved annual sales of around USD 26.9 million. Glenmark said its current portfolio consists of 182 products authorised for distribution in the US marketplace and 46 ANDAs (Abbreviated New Drug Applications) pending approval with the USFDA. PTI MSS.

Nandish Shah recommends Bull Spread on Glenmark Pharma for March series

The derivative analyst from HDFC Securities recommends to Buy Glenmark Pharma 440 CALL at Rs 7 & simultaneously sell 450 CALL at Rs 4 of March series

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Glenmark Pharma get USFDA nod for human trial of cancer-treating drug

Glenmark Pharmaceuticals on Thursday said its arm has received acceptance from the US health regulator to proceed with a phase 1/2, first-in-human trial for its investigational new drug aimed for treatment of patients with advanced cancers. In a regulatory filing, the company said Glenmark Specialty SA received the acceptance from the US Food and Drug Administration (USFDA) for the investigational new drug (IND) application 'GRC 54276' for the treatment of patients with advanced solid tumours and lymphomas. Developed by Glenmark, GRC 54276 is an orally available, small molecule hematopoietic progenitor kinase 1 (HPK1) inhibitor. HPK1-regulated functions are involved in nearly every step of the cancer-immunity cycle, making it an attractive target for immuno-oncology, the company said. By inhibiting HPK1, GRC 54276 is designed to potentially enhance the patient's own immune system to fight cancers, it added. "Now that the (US)FDA has accepted our IND application, we look forward to

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Glenmark Pharma receives USFDA approval for generic antibiotic drug

Glenmark Pharmaceuticals on Tuesday said it has received approval from the US health regulator to market a generic antibiotic drug. The company has received final approval from the US Food & Drug Administration (USFDA) for Clindamycin Hydrochloride Capsules, a generic version of Pfizer's Cleocin capsules, Glenmark Pharma said in a statement. Glenmark's Clindamycin Hydrochloride Capsules in strengths of 75 mg, 150 mg, and 300 mg, will be distributed in the US by Glenmark Pharmaceuticals Inc, it added. According to IQVIA sales data for the 12-month period ending January 2023, the Cleocin Hydrochloride Capsules, 75 mg, 150 mg, and 300 mg achieved annual sales of around USD 33.6 million. Glenmark shares were trading 0.12 per cent up at Rs 426.10 apiece on the BSE.

Nandish Shah recommends a Bull Spread on Glenmark Pharma for March expiry

The derivative analyst from HDFC Securities recommends to Buy Glenmark 460 Call and simultaneously Sell 480 Call of the March series.

Glenmark Pharma jumps 5% post December quarter earnings

The company reported a 21 per cent surge in Q3 consolidated net at Rs 291 crore.

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Glenmark Pharma December quarter PAT rises by 21.3% to Rs 290.8 crore

Glenmark Pharmaceuticals Ltd on Friday reported a 21.3 per cent rise in consolidated profit after tax at Rs 290.8 crore for the third quarter ended December 31, 2022. The company had posted a consolidated consolidated profit after tax of Rs 239.8 crore in the corresponding quarter last fiscal, Glenmark Pharma said in a statement. Consolidated revenue was at Rs 3,463.9 crore, as against Rs 3,173.4 crore, up 9.2 per cent, it added. "We had yet another quarter with a strong performance led by robust growth across all our markets despite the challenging macroeconomic conditions," Glenmark Pharmaceuticals Chairman & Managing Director Glenn Saldanha said. The company's India business continued to record a healthy increase in secondary sales, while the US business recovered well as the year progressed and the rest of world and EU businesses also reflected formidable growth during the quarter, he added. Sales from the India formulation business in the third quarter were at Rs 1,074.5 ...