Glenmark gets FDA approval for Ophthalmic solution, shares up

Glenmark Pharmaceuticals Ltd. secured final approval from the United States Food & Drug Administration (FDA) for its Brimonidine Tartrate and Timolol Maleate Ophthalmic Solution, 0.2%|0.5%. The company informed that the solution was deemed bioequivalent and therapeutically equivalent to Combigan Ophthalmic Solution, 0.2%|0.5%, produced by AbbVie, Inc. Glenmark Pharmaceuticals Inc., USA will distribute the product in the US.

Glenmark Pharmaceuticals Ltd. secured final approval from the United States Food & Drug Administration (FDA) for its Brimonidine Tartrate and Timolol Maleate Ophthalmic Solution, 0.2%|0.5%. The company informed that the solution was deemed bioequivalent and therapeutically equivalent to Combigan Ophthalmic Solution, 0.2%|0.5%, produced by AbbVie, Inc. Glenmark Pharmaceuticals Inc., USA will distribute the product in the US. 

According to IQVIA sales data for the 12-month period ending March 2024, the market for Combigan Ophthalmic Solution, 0.2%|0.5%, reached annual sales of approximately $290 million. 

Also Read: ICICI Direct outage sparks outrage: Investors demand compensation for lossesGlenmark’s current US portfolio includes 196 products authorised for distribution and 51 Abbreviated New Drug Applications (ANDAs) awaiting approval from the FDA. The company informed they are actively seeking external development partnerships to expand its existing pipeline and portfolio. 

The shares were up by 1.02% to ₹1016.45 at 11 am on the BSE.  

Like (0)
Previous May 17, 2024 3:48 pm
Next May 17, 2024 3:48 pm

Related posts

  • Goldman Sachs says South Korea could be included in FTSE World Treasury Index in September

    Goldman Sachs Group Inc said on Wednesday South Korea could be included in a key global bond index in September if it makes a breakthrough next month in expanding foreign investment in its government bonds.

    free stock signals May 15, 2024
  • ICICI Securities net doubles in Q4

    ICICI Securities, soon-to-be-delisted, has reported a 104-per cent year-on-year rise in consolidated net profit for the quarter ended March 2024. Its net zoomed to ₹535.35 crore for March 2024 crore as against ₹261.95 crore reported in year-ago comparable period. Total revenues rose 74 per cent to ₹1,542.85 crore (₹884.69 crore).

    free stock signals April 19, 2024
  • High-speed traders pile into big short on volatility in India

    In a market that’s captured the attention of global finance for allegedly making $1 billion for Jane Street Group, many trading firms are employing a relatively simple strategy: short volatility.

    free stock signals May 23, 2024
  • Beijing: By 2027, the entire stack of intelligent computing infrastructure software and hardware products will be autonomously controllable

    [Beijing: By 2027, the full stack of intelligent computing infrastructure software and hardware products will be autonomously controllable] According to the China Federation of Finance and Economics, April 25, the Beijing Municipal Economic and Information Technology Bureau and the Beijing Municipal Communications Administration jointly released the \”Beijing Computing Power Basics\” Facility Construction Implementation Plan (2024-2027)\”. It is mentioned that the \”small and scattered\” situation of intelligent computing construction will be changed and a number of single large intelligent computing clusters will be built. By 2025, the city\’s intelligent computing supply scale will reach 45EFLOPS. From 2025 to 2027, according to the development needs of artificial intelligence large models and Relevant national deployments further optimize the layout of computing power. The functions of Beijing’s computing power interconnection and operation service platform are gradually improving, and the supply and demand dispatch of intelligent computing resources are efficiently coordinated. By 2027, the entire stack of intelligent computing infrastructure software and hardware products will be autonomously controllable, the overall performance will reach the domestic leading level, and the ability to build 100% autonomous and controllable intelligent computing centers will be achieved, effectively supporting general and industry vertical categories that benchmark the international leading level. Training and inference of large models. Intelligent computing power accurately empowers the city\’s urban governance, industrial development, and people\’s livelihood security. There are more than 200 industry benchmark cases driven by intelligent computing power, promoting digital and intelligent transformation in various fields such as medical care, education, culture, finance, manufacturing, and energy. The PUE value of newly built and renovated intelligent computing centers in this city generally does not exceed 1.25, and the PUE value of large-scale advanced intelligent computing centers with annual energy consumption exceeding 30,000 tons of standard coal generally does not exceed 1.15. Promote the upgrading and transformation of the city\’s existing data centers so that by the end of the planning period, the PUE values ​​of all existing data centers will not be higher than 1.35.

    free stock signals April 25, 2024
  • Buchang Pharmaceutical: Net profit in the first quarter was 114 million yuan, a year-on-year decrease of 74.96%

    Buchang Pharmaceutical (603858) disclosed its first quarter report on the evening of April 25. In the first quarter of 2024, it achieved operating income of 2.641 billion yuan, a year-on-year decrease of 24.88%; net profit was 114 million yuan, a year-on-year decrease of 74.96%, mainly due to the increase in sales during the reporting period. reduction and the impact of changes in product sales structure.

    free stock signals April 25, 2024