Glenmark Gets USFDA Nod For Oral Contraceptive Drug; Shares Up

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, August 19, 2015, 12:14 [IST]

Glenmark Pharmaceuticals today said it has received final approval from the US health regulator to sell oral contraceptive -- drospirenone and ethinyl estradiol tablets -- in the US market.

The shares were up a huge 4 per cent following the reports of the approval and were last trading at Rs 1209.

"Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Drospirenone and Ethinyl Estradiol tablets USP, 3 mg/0.02 mg," the company said in a BSE filing.

The product is generic version Bayer's Yaz tablets. Glenmark said it plans to commence shipping of drospirenone and ethinyl Estradiol tablets immediately. Citing IMS Health sales data, the company said for the 12 months period ending June, "the Yaz market achieved annual sales of approximately USD 170.1 million". Glenmark's shares were trading at Rs 1,213.65 apiece, up 4.62 per cent from their previous close on BSE.

With inputs from PTI