Drug firm Glenmark Pharmaceuticals said it has received final nod from the US health regulator for generic Hydrocortisone Valerate cream used for providing relief in inflammation and itching due to various skin conditions.
Glenmark Pharmaceuticals Inc has been granted final approval by the United States Food & Drug Administration (USFDA) for Hydrocortisone Valerate Cream USP, 0.2 percent, Glenmark said in a statement.
The product is a generic version of Sun Pharmaceutical Industries' Westcort Cream in the same strength, it added.
According to IQVIA sales data for the 12-month period ending August 2018, the Westcort Cream, 0.2 percent market achieved annual sales of around $17 million, Glenmark said.
The company's current portfolio consists of 139 products authorised for distribution in the US marketplace and 60 abbreviated new drug applications (ANDA's) pending approval with the USFDA, Glenmark said.
Shares of Glenmark Pharmaceuticals were today trading at Rs 611.55 per scrip on BSE, up 1.78 percent from its previous close in late afternoon trade.
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