Shares of drug maker Glenmark Pharma witnessed rise on Thursday (19 May) on both BSE and NSE after the company said that it has received the final approval from the US Food and Drug Administration for its new generic equivalent of Eisai Inc’s paediatric anti-seizure drug Banzel with a 180-days market exclusivity. The share price that rose up to Rs 866 a unit in the morning trade settled at Rs 849.75, up 0.29 per cent, on NSE.
Glenmark’s revenue potential from the newly approved drug (Rufinamide tablets) is significantly high as it was one of the first applicants to file this generic application and will thus enjoy a six month exclusivity sales right in the $155.1 million US market.
According to IMS Health sales data for the 12 month period ending March 2016, Eisai achieved annual sales of approximately $155.1 million for Banzel.
Glenmark’s current product portfolio for the US market consists of 113 drugs and it awaits approval for 63 ANDA’s (generic drug applications) from the 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, the company said in a release on Thursday..
One of the most aggressive research-driven drug makers from India, Glenmark is currently ranked among the top 80 pharma and biotech companies in the world in terms of revenue, according to SCRIP 100 Rankings published in 2016. The company has a wide range of drug research pipeline comprises of new chemical entities (NCEs ) and new biological entities (NBEs).
It also has several molecules in various stages of clinical development and is primarily focused in the areas of Inflammation (asthma/COPD, rheumatoid arthritis, pain management (neuropathic and inflammatory pain), among others. Glenmark , which has a significant presence in the branded generics markets across emerging economies including India, operates at least 16 manufacturing facilities across five countries and has six research and development centers.
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Unnikrishnan is currently Senior Associate Editor with BW Businessworld at its Mumbai Bureau. During his two decades long journalistic career, he has received several media awards and recognitions. His articles on healthcare, life sciences and intellectual property rights (IPR) have been republished by several international blogs and journals.
