Glenmark, Pfizer reach settlement agreement for Axitinib Tablets

22 Nov 2022 , 10:04 AM

Glenmark Pharmaceuticals Limited and Glenmark Pharmaceuticals Inc., USA (Glenmark) have reached a settlement agreement with Pfizer Inc., PF Prism IMB B.V., and PF Prism C.V., (Pfizer) for Axitinib Tablets, 1 mg and 5 mg, the generic version of Pfizer’s Inlyta Tablets, 1 mg and 5 mg.

Glenmark had previously announced that the United States Food and Drug Administration (USFDA) had tentatively approved their generic Axitinib Tablets, 1 mg, and 5 mg, for release on November 30, 2020.

According to IQVIATM sales data for the 12-month period ending September 2022, the Inlyta Tablets, 1 mg, and 5 mg market generated approximately $644.5 million in annual sales.

Glenmark’s current portfolio includes 177 products that are authorized for distribution in the United States, as well as 47 ANDAs that are awaiting FDA approval.

Glenmark expressed that it continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio, in addition to these internal filings.

At around 10.08 AM, Glenmark Pharmaceuticals was trading at Rs417 up by 1.32% from its previous closing of Rs411.55 on the BSE. The scrip opened at Rs412.05 and touched intraday high and low of Rs417.70 and Rs412.05 respectively.

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