Shares of Glenmark Pharmaceuticals Ltd jumped 2.6 percent on December 21 after the company said it has launched Zita-Piomet for type 2 diabetes.
The stock hit a high of Rs 419 a share. At 10.25am, the scrip was trading at Rs 419 a share on BSE, up 2.5 percent from its previous close.
The drug contains Teneligliptin (20 mg) + Pioglitazone (15 mg) + Metformin (500mg/1000mg) in a sustained release (SR) formulation and help to improve glycemic control among adults with High HbA1ci and high insulin resistance.
" Being a leader in diabetes therapy in the country, we are proud to introduce Zita®‐PioMet, India’s first triple fixed dose combination for high insulin‐resistant type 2 diabetes. The innovative, effective, and affordable drug will help improve the glycemic control among adult patients with high HbA1c.” said Alok Malik, EVP & Business Head ‐ India Formulations, Glenmark Pharmaceuticals Ltd.
The company on December 19 announced that it had received the final approval from the United States Food and Drug Administration for Nicardipine Hydrochloride Capsules, 20 mg and 30 mg, which are used for treating high blood pressure and chest pain.
The capsules are the generic version of Cardene 1 Capsules, 20 mg and 30 mg, of Chiesi USA, Inc.
Glenmark’s current portfolio consists of 178 products authorised for distribution in the US marketplace and 46 ANDAs pending approval with the US FDA.
The company last week entered into an agreement with JB Chemicals & Pharmaceuticals Ltd. to divest its cardiac brand, Razel (Rosuvastatin and combinations), in India and Nepal for an amount of Rs 313.7 crore.
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