Glenmark Pharmaceuticals has reached a settlement agreement with Pfizer for Axitinib Tablets (1 mg and 5 mg) and the generic version of their Inlyta1 Tablets, the pharma major informed indices on November 22.
Glenmark had previously announced it received tentative approval from the United States Food & Drug Administration (USFDA) for their generic Axitinib Tablets on November 30, 2020.
According to sales data for the 12‐month period ending September 2022, the Inlyta Tablets, 1 mg and 5 mg, achieved annual sales of approximately $644.5 million.
Glenmark’s current portfolio consists of 177 products authorised for distribution in the United States markets and 47 Abbreviated New Drug Applications (ANDAs) pending approval with the USFDA.
"In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio," the company said in the statement.
In the early trade on November 22, Glenmark Pharmaceuticals shares are trading at Rs 415.85, up 1.02 percent over the previous close of Rs 411.65.
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