Glenmark Pharma to launch Zetia in US today
DSIJ Intelligence / 12 Dec 2016
Mumbai based generic drug major, Glenmark Pharmaceuticals will be launching its cholesterol drug, Zetia in the United States on December 12, 2016. Glenmark was the first company to file for the generic version of Zetia. Merck is the original innovator of the drug, which has reported global sales of USD 3.77 billion in 2015.
Mumbai based generic drug major, Glenmark Pharmaceuticals will be launching its cholesterol drug, Zetia in the United States on December 12, 2016. Glenmark was the first company to file for the generic version of Zetia. Merck is the original innovator of the drug, which has reported global sales of USD 3.77 billion in 2015.
The company being the first one to file for the generic version, translates into the fact that post the launch, only Glenmark and Merck will be selling generic Zetia in the US market for the next 6 months, as they have acquired the exclusive window which no other Pharma company will have access to.
This exclusive period will help Glenmark Pharma generate revenues more than USD 400-500 million and should make profits of around USD 200-250 million post sharing with its partner firm, Par, with which the company holds a 50:50 partnership.
The incremental revenue generated from the drug sales would also help the company in reducing its debt levels and expenditure on R&D.
Ahead of the drug launch shares of Glenmark Pharma are trading with gains of two per cent at Rs 918.90 on NSE.
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