Glenmark Receives Final Approval For Zomig Generic
DSIJ Intelligence / 15 May 2013
With strong FY13 numbers and this approval, the company is likely to keep up its earnings momentum.
Pharma company Glenmark has reported that it has received an approval for manufacturing the Zolmitriptan tablets of 2.5 mg and 5 mg. It has also received an approval for manufacturing Zolmitriptan orally, disintegrating the tablets in the same 2.5 mg and 5 mg strength. Both these tablets are the generic versions of Zomig and Zomig ZMT of Astra Zeneca, and are indicated for the treatment of acute migraine in adults.
The company’s press release states that the market for these drugs in the USA is worth around USD 176 million. Information about the competition in the markets is not available yet.
With this approval, the company now has a pipeline of 85 products in the US market with 50 of them approved so far. It has also posted a good set of numbers for FY13 and hence the earnings momentum is not likely to fade with the pipeline of products.
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