Glenmark Pharma inks distribution pact with Cediprof

The drug maker said that it has entered into an exclusive supply and distribution agreement with Cediprof to supply and distribute the latter's USFDA approved drugs.

Glenmark expects to commence distribution of the product in the U.S. during the second half of 2023. This product has long been on FDA's shortage list.

According to IQVIA sales data for the 12-month period ending January 2023, the Adderall tablets achieved annual sales of approximately $389.8 million.

Glenmark's current portfolio consists of 180 products authorized for distribution in the U.S. marketplace and 48 ANDA's pending approval with the USFDA.

Brendan O'Grady, chief executive officer - Glenmark Global Formulations Business said, "Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate and Amphetamine Sulfate Tablets (Mixed Salts of a Single Entity Amphetamine Product), 5 mg, 10 mg, 15 mg, 20 mg and 30 mg is a highly prescribed medication in the United States. Glenmark is very pleased to be able to alleviate the shortage this country is facing by partnering with Cediprof and Neol.

Glenmark Pharmaceuticals is a global innovation-driven pharmaceutical company with presence across specialty, generics and OTC businesses.

The company's consolidated net profit rose 21.13% to Rs 290.76 crore on 8% increase in net sales to Rs 3,392.24 crore in Q3 FY23 over Q3 FY22.

The scrip rose 0.53% to Rs 428.05 on the BSE.

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