Glenmark Pharmaceuticals rose 0.91% to Rs 494.70 after the drug maker said it received US drug regulator's final approval for dimethyl fumarate delayed-release capsules.
In a BSE filing made during market hours today, Glenmark Pharma said the drug is the generic version of Tecfidera delayed-release capsules, 120 mg and 240 mg, of Biogen, Inc.
The drug is indicated for the treatment of patients with relapsing forms of multiple sclerosis, to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease, in adults.
According to IQVIA sales data for the 12 month period ending August, the Tecfidera delayed-release capsules, 120 mg and 240 mg market achieved annual sales of approximately $3.8 billion.
Glenmark's current portfolio consists of 164 products authorized for distribution in the U.S. marketplace and 46 abbreviated new drug applications pending approval with the USFDA.
Glenmark Pharmaceuticals (GPL) is a global research-led pharmaceutical company with presence across generics, specialty and OTC business with operations in over 50 countries. The company's key therapy focus areas globally are respiratory, dermatology and oncology.
The company's consolidated net profit surged to Rs 254.04 crore in Q1 June 2020 from Rs 109.28 crore in Q1 June 2019. Consolidated revenue increased by 0.94% to Rs 2,344.78 crore in the June quarter from Rs 2,322.87 crore in the corresponding period last fiscal.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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