Glenmark Pharmaceuticals acquires certain OTC drugs from Wockhardt in US

Glenmark Pharma | CMP: Rs 377.50 | The scrip fell over 2 percent on reports of USFDA beginning inspection of the company’s Baddi plant. The US Food and Drug Administration (USFDA) began inspection of Glenmark Pharma's Baddi plant today, sources confirmed to CNBC-TV18. The USFDA had issued a 'Warning Letter' in October 2019 to the Baddi facility.

Glenmark Pharmaceuticals Ltd on Tuesday said it has acquired the approved generic versions of certain over-the-counter drugs from Wockhardt Ltd 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.

The company, however, did not disclose the financial details. Glenmark has also acquired ANDAs of anti-allergy medicine cetirizine hydrochloride tablets, 5 mg and 10 mg, indigestion, heartburn and acid reflux treatment drug Lansoprazole delayed-release capsules USP, 15 mg and Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1 per cent indicated for allergic conjunctivitis and allergic rhinitis, in the US.

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