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Last Updated : Jul 09, 2019 12:07 PM IST | Source: Moneycontrol.com

Glenmark Pharma gains 4% on USFDA approval for anti-anginal drug

Glenmark's current portfolio consists of 158 products authorised for distribution in the US marketplace and 57 ANDA’s pending approval with the USFDA

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Glenmark Pharmaceuticals shares rallied 3.6 percent intraday on July 9 after the company received approval from US health regulator for anti-anginal drug.

The US Food and Drug Administration granted its approval for Ranolazine extended-release tablets, which will be available in 500 mg and 1,000 mg strengths.

Ranolazine is a generic version of Ranexa extended-release tablets of Gilead Sciences, Inc. The drug improves blood flow to help the heart work more efficiently.

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According to IQVIATM sales data for the 12 month period ending May 2019, the Ranexa achieved annual sales of approximately $929.0 million, Glenmark said.

Glenmark's current portfolio consists of 158 products authorised for distribution in the US marketplace and 57 ANDA’s pending approval with the USFDA.

The stock was quoting at Rs 449.00, up Rs 12.25, or 2.80 percent on the BSE at 1136 hours IST.

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First Published on Jul 9, 2019 12:07 pm
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