Glenmark Pharma gains 2% on USFDA approval for antimicrobial drug

Glenmark Pharma gains 2% on USFDA approval for antimicrobial drug

Glenmark Pharmaceuticals shares gained 1.7 percent in morning on Thursday after the US health regulator approved antimicrobial drug of the company.

“The United States Food & Drug Administration (USFDA) granted final approval for Atovaquone oral suspension, which is available in 750 mg/5 mL strength,” the company said in its filing.

Abbreviated new drug application was filed by its US subsidiary.

Atovaquone is a generic version of Mepron oral suspension, 750 mg/5 mL, of GlaxoSmithKline LLC.

According to IQVIATM sales data, the Mepron market achieved annual sales of approximately $119.1 million.

Glenmark’s current portfolio consists of 144 products authorized for distribution in the US marketplace and 55 ANDA’s pending approval with the US FDA.

At 09:50 hours IST, the stock was quoting at Rs 643.85, up Rs 2.65, or 0.41 percent on the BSE.