Page 8 - Glenmark Pharmaceuticals

Glenmark Life Sciences profit rises 1% in Dec quarter on API strength

The Mumbai-based drug maker's profit rose to 1.05 billion rupees ($12.86 million) in the three months ended Dec. 31, from 1.04 billion rupees a year ago

Glenmark pharma launches generic version of Novartis' heart failure drug

Opens floodgates for more generic launches; 40 new brands expected

Glenmark Pharmaceuticals launches drug to treat heart failure in India

Its approved indication is to reduce the risk of cardiovascular related deaths and hospitalisations for patients with chronic heart failure with HFrEF

Glenmark launches generic version of diuretic Bumetanide injection

Glenmark Pharmaceuticals Ltd on Tuesday said its US arm has launched its generic version of diuretic Bumetanide injection. In a statement the company said Glenmark Pharmaceuticals Inc., USA (Glenmark) launched Bumetanide Injection of strengths of 1 mg/4 mL (0.25 mg/mL) single-dose vials and 2.5 mg/10 mL (0.25 mg/mL) multi-dose vials. These are the generic version of Bumex injection, 0.25 mg/mL, of Validus Pharmaceuticals LLC, it added. The launch affirms commitment to Glenmark's continued focus on institutional business, company Senior Vice President, Business Development Portfolio, Product Launch & Strategy, Vijay Raghavan said. The Bumex injection, 0.25 mg/mL achieved annual sales of approximately USD 16.5 million, the company said citing IQVIA sales data for the 12-month period ended November 2022.

F&O Call: Nandish Shah recommends to long Glenmark Pharma futures

The derivative analyst from HDFC Securities expects Glenmark Pharma January futues to test Rs 450 on the upside.

Shankar Sharma at BFSI Summit: Budget 2023 shouldn't tinker with LTCG tax

Market closing: The S&P BSE Sensex dropped 241 points to end at 60,826 levels in a broad-based sell-off. The Nifty50 gave up the 18,150-mark to close at 18,127, down 72 points

Glenmark Pharma launches combination drug for Type 2 diabetic patients

Glenmark Pharmaceuticals Ltd on Wednesday said it has launched triple fixed-dose combination Teneligliptin with Pioglitazone and Metformin in India for diabetic patients. This fixed-dose combination offers patients with Type 2 diabetes the convenience of once daily dosing to improve their glycemic control. It is priced at Rs 14.90 per day, thereby reducing the daily cost of therapy by 40 per cent, making it more affordable to the masses, the company said in a statement. It has been launched under the brand name Zita-PioMet, and contains Teneligliptin (20 mg), Pioglitazone (15 mg) and Metformin (500mg/1000mg) in a sustained release (SR) formulation, it added. "Type 2 diabetes patients in India often face issues of beta cell dysfunction along with insulin resistance. In fact, the prevalence of high insulin resistance in India is 38 per cent compared to the global incidence of 15 per cent," Glenmark Pharmaceuticals EVP & Business Head - India Formulations Alok Malik said. The market .

Stocks to watch: Glenmark Pharma, NTPC, V-Guard Inds, Lupin, YES Bank, NDTV

Stocks to watch today: Jaiprakash Associates has called a board meeting on Monday, December 12, to mull over sale of their Nilgrie cement unit in Madhya Pradesh

USFDA issues warning letter to Glenmark Pharma for lapses at Goa plant

The US health regulator has pulled up drug maker Glenmark Pharmaceuticals for manufacturing lapses, including failure to establish required laboratory control mechanisms, at its Goa-based manufacturing plant. In a warning letter addressed to Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha, the US Food and Drug Administration (USFDA) pointed out various lapses at the company's Bardez-based facility in Goa, which produces drug formulations. The US Health regulator noted that the "warning letter summarises significant violations of Current Good Manufacturing Practice (CGMP) regulations for finished pharmaceuticals". It further said: "Because your methods, facilities, or controls for manufacturing, processing, packing, or holding do not conform to CGMP, your drug products are adulterated..." The USFDA inspected the manufacturing facility from May 12, 2022, to May 20, 2022. In the warning letter, the US health regulator pointed out the company's failure "to ...

Innovator drugs maintain market hold even after patent expiry, shows data

Merck's anti-diabetic molecule sitagliptin retains 81% market share in value terms

Glenmark Pharma inks settlement pact with Pfizer for cancer treatment drug

Glenmark Pharmaceuticals on Tuesday said it has entered into a settlement agreement with Pfizer Inc regarding a cancer treatment drug. The Mumbai-based drug maker and its US-based unit have inked a settlement pact with drug major Pfizer Inc for Axitinib Tablets (1 mg and 5 mg). Glenmark's product is the generic version of Pfizer's Inlyta tablets, used to treat kidney cancer. According to IQVIATM sales data for the 12-month period ending September 2022, the Inlyta tablets (1 mg and 5 mg) achieved annual sales of around USD 644.5 million. Glenmark said its current portfolio consists of 177 products authorised for distribution in the US marketplace and 47 abbreviated new drug applications (ANDA's) are pending for approval with the US Food and Drug Administration. Shares of of the drug maker were trading 1.54 per cent up at Rs 417.9 apiece on BSE.

F&O Strategy: Nandish Shah recommends Bull Call Spread on Glenmark Pharma

The derivative analyst from HDFC Securities also recommends buying United Spirits November futures for a price target of Rs 940.

Glenmark Pharmaceuticals Q2 PAT rises marginally to Rs 279 crore

Glenmark Pharmaceuticals on Friday said its profit after tax (PAT) rose marginally to Rs 279 crore for the second quarter ended September 30, 2022. The Mumbai-based drug firm had reported a PAT of Rs 275 crore in the July-September period of the previous fiscal. Consolidated revenue rose to Rs 3,375 crore in the period under review as against Rs 3,147 crore in the year-ago quarter, Glenmark Pharma said in a regulatory filing. "We delivered yet another quarter of consistent growth, with our relentless focus on launching differentiated products in our core therapeutic areas," Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha said. The company's domestic business recorded strong double-digit growth and Europe business also performed very well in spite of a challenging macro-economic environment, he added. "We look forward to launching new products across markets and building global scale in our respiratory portfolio," Saldanha said.

Here's why Mehul Kothari is bullish on Glenmark Pharma, Muthoot Finance

According to the technical analyst from Anand Rathi, Glenmark Pharma can surge to Rs 460, while Muthoot Finance can rally to Rs 1,175.

Glenmark Pharma gets US health regulator nod for generic medication

Glenmark Pharmaceuticals on Wednesday said it has received approval from the US health regulator to market Sodium Phenylbutyrate tablets, used in treating urea cycle disorders, in America. The company has received final approval from the US Food and Drug Administration (USFDA) for the product which is a generic version of Horizon Therapeutics' Buphenyl, the Mumbai-based drug maker said in a statement. According to IQVIA sales data for 12-month period ended September 2022, Buphenyl had annual sales of around USD 8.7 million. Glenmark's current portfolio consists of 177 products authorised for distribution in the US marketplace and 46 abbreviated new drug applications (ANDAs) pending approval with the USFDA.

Stocks to watch: Zee Ent, SBI Cards, Tata Chemicals, Glenmark Pharma, Dabur

Stocks to watch today: SBI Cards, Indus Towers will report July-September quarter results on Thursday, October 27; Sony India and Zee Ent plan to sell 3 Hindi channels to address anti-competition

USFDA issues import alert on Glenmark Pharma's Baddi manufacturing plant

Glenmark Pharmaceuticals on Wednesday said the US health regulator has put its manufacturing plant at Baddi under import alert. The drugs produced at the Baddi unit can now be detained without physical examination. The US Food and Drug Administration inspected the facility in June 2022 and subsequently placed it under "Official Action Indicated" status. The OAI classification implied that the USFDA may withhold approval of any pending product applications or supplements filed from such facility till the outstanding observations related to non-compliance with manufacturing norms laid down by the regulator. "We now wish to inform you that the US FDA has placed the Baddi (India) facility under import alert 66-40," Glenmark Pharmaceuticals said in a regulatory filing. As per the USFDA, import alert 66-40 implies detention without physical examination of drugs from firms which have not met drug GMPs. "The US revenues from products supplied from this facility contributed to 1-2 per cen

Glenmark Pharma launches drug for diabetic patients with comorbidities

Glenmark Pharmaceuticals on Thursday said it has launched a fixed-dose combination for the treatment of diabetes for patients with comorbidities. The Mumbai-based drug maker said it has become the first company to launch Teneligliptin (20mg) + Dapagliflozin (5mg/10mg) fixed-dose combination for the treatment of adult patients with type 2 diabetes. Marketed under the brand name Zita D, it contains Teneligliptin (20mg) + Dapagliflozin (5 mg/10 mg), and must be taken once daily under prescription to improve glycemic control and prevent complications in adult patients with type 2 diabetes, especially the ones with comorbidities, Glenmark Pharma said in a statement. "Diabetes is growing in India at an alarming rate, and eight out of every ten diabetic patients suffer from comorbidities," Glenmark Pharmaceuticals EVP & Business Head India Formulations Alok Malik said. The new drug is well researched and affordable fixed-dose combination, which will significantly improve glycemic control

Glenmark launches drug to treat patients with insulin-resistant diabetes

Glenmark Pharmaceuticals on Thursday said it has launched Thiazolidinedione Lobeglitazone in the country for the treatment of type 2 diabetes in adults. The Mumbai-based drug firm has launched the medication under the brand name LOBG and is priced at around Rs 10 per tablet. Indians have a high prevalence of insulin resistance and that makes LOBG an appealing treatment option in managing uncontrolled Type 2 diabetes among insulin-resistant diabetic patients, Glenmark Pharmaceuticals said in a statement. The company had received approval from the Indian drug regulator, Drug Controller General of India, for manufacturing and marketing Lobeglitazone, based on a randomised, double-blind Phase 3 clinical trial conducted on adult Type 2 diabetic patients, aged 18 years and older. "As per the International Diabetes Federation, diabetes affects 74 million adults in India, of which, around 40 per cent of them seem to be insulin-resistant... "We are proud to introduce LOBG; an innovative an

Shareholding gaffe at Glenmark Life: Focus shifts to Sebi new rules

Company promoters bought shares even when they held more than 75 per cent