Glenmark gains on USFDA nod for diarrhoea drug
Reuters Market Eye - Shares in Glenmark Pharmaceuticals (GLEN.NS) gain 2.5 percent after U.S. health regulators approved Salix Pharmaceuticals Ltd's (SLXP.O) drug to treat diarrhoea in HIV/AIDS patients on qantiretroviral therapy, a combination of medicines used to treat HIV infection.
Glenmark will be the active pharmaceutical ingredients supplier for the drug to Salix in regulated markets.
An international arbitrator ruled in August 2012 that Glenmark Pharmaceuticals has the right to sell its HIV-associated diarrhoea drug Crofelemer in 140 countries.
Edelweiss in a report says, "The overall potential market for Crofelemer is anticipated at $300 million-$500 million and peak potential revenue for Glenmark, from API supply, could be $15 million-$20 million per annum."
(Reporting by Abhishek Vishnoi)
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