Glenmark Pharma stock rise on getting USFDA approval for inhalation product

Jun 23 2021 12:56 PM
Glenmark Pharma stock rise on getting USFDA approval for inhalation product

Leading Drug maker Glenmark Pharma on Wednesday said it had received approval from the US health regulator for Arformoterol Tartrate Inhalation Solution, used to treat conditions like chronic bronchitis and emphysema, in the US market.

"Glenmark Pharmaceuticals has received final approval by the United States Food and Drug Administration (USFDA) for Arformoterol Tartrate Inhalation Solution, 15 mcg/2 mL, unit-dose vials," the company said in a regulatory filing.  The approved product is a generic version of Brovana Inhalation Solution, 15 mcg/2 mL, of Sunovion Pharmaceuticals Inc.

Glenmark's current portfolio consists of 172 products authorised for distribution in the US marketplace and 44 abbreviated new drug applications' pending approval with the USFDA.

Reacting to the development shares of Glenmark Pharma touched an intraday high in share price to Rs. 647 as against previous closing price of Rs. 640 on NSE. While during the mid-noon session, the NSE Nifty quoted at 15746, down 26 points in trade.

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