Glenmark Pharma's US arm acquires approved ANDAs from Wockhardt

Glenmark Pharmaceuticals said that its fully owned subsidiary Glenmark Pharmaceuticals Inc., USA, has acquired the approved ANDAs of four over-the-counter (OTC) drugs from Wockhardt.

The acquired abbreviated new drug applications (ANDAs) are Famotidine Tablets USP, 10 mg and 20 mg (OTC), Cetirizine Hydrochloride Tablets USP, 5 mg and 10 mg (OTC), Lansoprazole Delayed-Release Capsules USP, 15 mg (OTC) and Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1% (OTC).

Sanjeev Krishan, president of Glenmark Pharmaceuticals Inc., USA, commented 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's current portfolio consists of 175 products authorized for distribution in the U.S. marketplace and 48 ANDAs pending approval with the U.S. 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.

Glenmark Pharmaceuticals is a global pharmaceutical company with a presence across specialty, generics, and OTC businesses.

The pharmaceutical company's consolidated net profit slumped 33.5% to Rs 155.59 crore on a 4.6% rise in net sales to Rs 2,961.15 crore in Q4 FY22 over Q4 FY21.

The scrip shed 0.96% to currently trade at Rs 382.75 on the BSE.

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