Glenmark acquires Wockhardt's key OTC brands in US for undisclosed sum

Deal includes approved ANDAs for famotidine tablets, used in treatment and prevention of ulcers stomach and intestinal ulcers

Mumbai-based Glenmark Pharmaceuticals said it has acquired the approved generic versions of certain over-the-counter drugs from Wockhardt Ltd in the US for an undisclosed sum. The move is expected to strengthen the acquirer's OTC presence in the US. 

The acquisition by the company's fully-owned subsidiary, Glenmark Pharmaceuticals Inc, USA, includes the approved abbreviated new drug applications (ANDAs) for famotidine tablets, 10 mg and 20 mg, used to treat and prevent ulcers in the stomach and intestine, the company said in a statement.

Glenmark did not disclose the financial details. The stock ended at Rs 387, up 0.8 per cent up on the BSE. 

"The over-the-counter market has long been an important segment of Glenmark's portfolio around the world. Our acquisition of these ANDAs represents the continued expansion of our business into the OTC market here in the United States and our commitment to ensuring patients have access to high quality, affordable medicines," Glenmark Pharmaceuticals Inc, USA, President Sanjeev Krishan said.

Glenmark has acquired ANDAs of anti-allergy medicine cetirizine hydrochloride tablets, acid reflux treatment drug Lansoprazole delayed-release capsules, and Olopatadine Hydrochloride Ophthalmic Solution for allergic conjunctivitis and allergic rhinitis, in the US.

The company said its current portfolio consists of 175 products authorised for distribution in the US market and 48 ANDAs pending approval with the USFDA.