Parma major Glenmark Pharmaceuticals Limited on Tuesday said it has received tentative approval from the US health regulator for Axitinib tablets, used in the treatment of kidney cancer. The tentatively approved product is the generic version of Inlyta tablets of PF Prism CV.

Glenmark Pharmaceuticals Inc, USA has received tentative approval by the United States Food & Drug Administration (USFDA) for Axitinib tablets in the strength of 1 mg and 5 mg, the company said in a regulatory filing. Quoting IQVIA sales data for the 12 months ending October 2020, Glenmark Pharma said the Inlyta Tablets, 1 mg and 5 mg market achieved annual sales of approximately USD 518.8 million. Glenmark's current portfolio consists of 166 products authorized for distribution in the US market and 45 ANDA's pending approval with the US drug regulator.

Reacting to the development, shares of Glenmark Pharmaceuticals Limited traded higher at Rs. 479.70 per share, up by 0.54 percent from its previous closing on the NSE during the morning session on Wednesday.

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