Glenmark Pharma launches Fingolimod Capsules in US market; Stock gains 2%

1 Nov 2022 , 11:09 AM

Glenmark Pharmaceuticals Inc., USA (Glenmark) has announced that it has launched their Fingolimod Capsules, 0.5 mg, the generic version of Gilenya Capsules, 0.5 mg, of Novartis Pharmaceuticals Corporation.

Commenting on the launch, Sanjeev Krishan, President, Glenmark North America said, “We are very pleased to bring to market a lower cost alternative to Gilenya Capsules, 0.5 mg. This launch confirms our commitment to provide quality and affordable pharmaceutical products to patients.”

According to IQVIATM sales data for the 12-month period ending September 2022, the Gilenya Capsules, 0.5 mg market achieved annual sales of approximately $1.8 billion.

Glenmark’s current portfolio consists of 176 products authorized for distribution in the U.S. marketplace and 47 ANDA’s pending approval with the U.S. FDA.

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

At around 11:07 AM, Glenmark Pharmaceuticals Ltd is currently trading at Rs413 per share up by Rs8.6 or 2.13% from its previous closing of Rs404.40 per share on the BSE.

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