Mumbai-based Glenmark Pharmaceuticals said it acquired the approved generic versions of some over-the-counter drugs from Wockhardt Ltd in the United States for an undisclosed sum. This decision should strengthen the acquirer’s OTC presence in the United States.
The acquisition by the Company’s wholly-owned subsidiary, Glenmark Pharmaceuticals Inc, USA, includes Approved Abbreviated New Drug Applications (ANDAs) for famotidine tablets, 10mg and 20mg, used to treat and prevent stomach and intestinal ulcers, the company said in a statement.
Glenmark did not disclose financial details. The stock ended at Rs 387, up 0.8% from BSE.
“The over-the-counter market has long been an important segment of Glenmark’s portfolio globally. Our acquisition of these ANDAs represents the continued expansion of our business in the OTC market here in the United States and our commitment to ensuring patients l ‘access to high-quality, affordable medicines,’ said President of Glenmark Pharmaceuticals Inc, USA, Sanjeev Krishan.
In the United States, Glenmark has acquired ANDAs of acid reflux medication cetirizine hydrochloride tablets, lansoprazole delayed-release capsules and olopatadine hydrochloride ophthalmic solution for allergic conjunctivitis and allergic rhinitis.
The company said its current portfolio consists of 175 products cleared for distribution in the US market and 48 ANDAs awaiting USFDA approval.