Glenmark Pharma rises 5% as Lacosamide tablets get final approval from US watchdog

Published On: Monday, March 21, 2022 | By: Team KnowMyStock

Shares of Glenmark raised 5 percent to Rs 466, as it announced that it has received final approval from the United States Food & Drug Administration (USFDA) for its lacosamide tablets USP — 50, 100, 150, and 200 mg.“The USFDA approval for generic Lacosamide tablets USP reiterates our ongoing commitment to making treatment options more accessible for patients. We look forward to quickly launching this product in the US market," said Robert Crockart, a chief commercial officer of Glenmark Pharmaceuticals. Glenmark Pharmaceuticals is a global innovation-driven pharmaceutical company with a presence across Specialty, Generics, and OTC businesses. According to IQVIATM sales data for the 12 month period ending January 2022, the Vimpat® Tablets, 50 mg, 100 mg, 150 mg, and 200 mg achieved annual sales of approximately $1.7 billion.

The drug company's consolidated net profit fell 3.4% to Rs 239.75 crore on a 13.9% rise in net sales to Rs 3,141.47 crore in Q3 FY22 over Q3 FY21.

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MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

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