Drug firm Glenmark Pharmaceuticals Ltd. on Wednesday has received a nod from the US health regulator to market a generic medicine to treat heartburn which is usually caused by excess acid production in the stomach.
Glenmark Specialty SA has received final approval from the US Food and Drug Administration for Esomeprazole Magnesium delayed-release capsules, the drug maker said in a statement.
The company's product is the generic version of Haleon US Holdings LLC's Nexium, which will be distributed by Glenmark Therapeutics Inc., USA.
According to Nielsen syndicated data for the latest 52-week period ending May 18, 2024, the Nexium24 HR delayed-release capsules (20 mg) achieved annual sales of around $259.2 million.
Shares of Glenmark Pharmaceuticals closed 0.94 per cent higher at Rs 1,202 apiece on the NSE, compared with 0.25% rise in NSE Nifty 50.
(Text inputs from PTI)
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