MARKET EYE-Glenmark gains on USFDA nod for diarrhoea drug

Tue Jan 1, 2013 1:39pm IST

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* Shares in Glenmark Pharmaceuticals gain 2.5 percent
after U.S. health regulators approved Salix Pharmaceuticals
Ltd's 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."

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