Glenmark gets USFDA tentative nod for oral contraceptives; shares slightly up

Glenmark Pharmaceuticals has received tentative nod from the US health regulator for generic version of oral contraceptive tablets Lo Loestrin Fe.

On the news, the company's shares were trading up Rs 2.50 or 0.30% at Rs 834.00 per share from previous day's close. The BSE Sensex at the time was down slightly.

Glenmark Pharmaceuticals USA has been granted tentative approval by the USFDA for Norethindrone Acetate and Ethinyl Estradiol tablets USP, 1 mg/0.01 mg,  USP, 0.01 mg and Ferrous Fumarate tablets, 75 mg, the generic version of Lo Loestrin Fe, the company said in a BSE filing today.

It further said: "Glenmark will market this product upon receiving the final approval...The patent listed in the Orange Book for Lo Loestrin Fe tablets is scheduled to expire on February 22, 2029."

According to IMS Health sales data for the 12 months to February 2016, Lo Loestrin Fe achieved annual sales of around USD 432.2 million, Glenmark said.

The company's current portfolio consists of 112 products authorised for distribution in the US marketplace and 57 Abbreviated New Drug Applications (ANDA) pending for approval with the USFDA.