Glenmark Pharmaceuticals gets USFDA nod for Abiraterone Acetate Tablets; Stock surges 2%

20 May 2022 , 10:28 AM

Glenmark Pharmaceuticals Inc., USA (Glenmark) has received final approval by the United States Food & Drug Administration (U.S. FDA) for Abiraterone Acetate Tablets USP, 500 mg, the generic version of Zytiga Tablets, 500 mg, of Janssen Biotech Inc.

According to IQVIATM sales data for the 12 month period ending March 2022, the Zytiga Tablets, 500 mg market2 achieved annual sales of approximately $260.2 million.

Glenmark’s current portfolio consists of 173 products authorized for distribution in the U.S. marketplace and 49 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 10:22 AM, Glenmark Pharmaceuticals was trading at Rs400.85 apiece up by Rs8.35 or 2.13% from its previous closing of Rs392.50 apiece on the BSE.