Glenmark Pharmaceuticals on Wednesday, June 12, said its subsidiary has received fthe inal approval from the United States Food and Drug Administration (USFDA) for the esomeprazole magnesium delayed-release capsules, which is used to treat certain stomach problems.
The clearance has been received by Glenmark Specialty SA for the over the counter (OTC) capsules in the strength of 20 mg. These drugs are bioequivalent to Nexium 24 HR Delayed-Release Capsules, 20 mg (OTC) by Haleon US Holdings LLC, the company said in a stock exchange filing.
Esomeprazole Magnesium tablets help in the treatment of stomach and esophagus issues like acid reflux and ulcers by reducing stomach acid. It relieves heartburn, swallowing problems, and cough. It also helps heal acid damage, prevents ulcers, and may reduce the risk of esophagus cancer.
The new drug will be distributed in the US by Glenmark Therapeutics Inc, USA, Glenmark Pharma informed the stock exchanges.
The Nexium 24 HR market achieved annual sales of approximately $259.2 million as of May 18, 2024.
Glenmark’s US portfolio includes 197 products, with 50 ANDAs pending approval.
In addition to these internal filings, Glenmark said that it continues to identify and explore external development partnerships to enhance its pipeline and portfolio.
In its investor call last month, Glenmark Pharmaceuticals announced plans to focus on substantial revenue growth, efficient capital utilisation, and enhanced profitability.
Starting from FY26, Glenmark aims to return 15-20% of profit to shareholders through dividends and buybacks.
Also, the company also plans to improve operating margins, maintain a strong cash position, avoid debt accumulation, and remain free cash positive, thereby providing more rewards to shareholders.
Shares of Glenmark Pharma were trading 0.72% higher at ₹1,200.75 apiece on the BSE around 9.24 am.
Glenmark Pharma shares were trading 0.15% lower at ₹⟩1,189 apiece at 10.35 am on Wednesday, June 12.
Also Read: Heritage Foods shares in second straight lower circuit after price band revised to 5%
The clearance has been received by Glenmark Specialty SA for the over the counter (OTC) capsules in the strength of 20 mg. These drugs are bioequivalent to Nexium 24 HR Delayed-Release Capsules, 20 mg (OTC) by Haleon US Holdings LLC, the company said in a stock exchange filing.
Esomeprazole Magnesium tablets help in the treatment of stomach and esophagus issues like acid reflux and ulcers by reducing stomach acid. It relieves heartburn, swallowing problems, and cough. It also helps heal acid damage, prevents ulcers, and may reduce the risk of esophagus cancer.
The new drug will be distributed in the US by Glenmark Therapeutics Inc, USA, Glenmark Pharma informed the stock exchanges.
The Nexium 24 HR market achieved annual sales of approximately $259.2 million as of May 18, 2024.
Glenmark’s US portfolio includes 197 products, with 50 ANDAs pending approval.
In addition to these internal filings, Glenmark said that it continues to identify and explore external development partnerships to enhance its pipeline and portfolio.
In its investor call last month, Glenmark Pharmaceuticals announced plans to focus on substantial revenue growth, efficient capital utilisation, and enhanced profitability.
Starting from FY26, Glenmark aims to return 15-20% of profit to shareholders through dividends and buybacks.
Also, the company also plans to improve operating margins, maintain a strong cash position, avoid debt accumulation, and remain free cash positive, thereby providing more rewards to shareholders.
Shares of Glenmark Pharma were trading 0.72% higher at ₹1,200.75 apiece on the BSE around 9.24 am.
Glenmark Pharma shares were trading 0.15% lower at ₹⟩1,189 apiece at 10.35 am on Wednesday, June 12.
Also Read: Heritage Foods shares in second straight lower circuit after price band revised to 5%
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