Corporate Jun 21, 2013
New Delhi: India's Sun Pharmaceutical Industries and Glenmark Generics have got approval from US health regulator to sell generic versions of nervous system disorder treatment drug Riluzole.
As per the United States Food and Drug Administration (USFDA) web site, the approvals were given for generic Riluzole oral tablets in the strength of 50 mg.
Riluzole is indicated for treatment of amyotrophic lateral sclerosis. As per IMS Health sales data for the 12 month period ended March 2013, Riluzole had garnered sales of USD 64 million in the US market.
Glenmark Generics is a subsidiary of Glenmark Pharma and focuses on developing, manufacturing, selling and the distribution of generics through wholesalers, retailers and pharmacy chains.
Shares of Sun Pharmaceutical Industries and Glenmark Pharmaceuticals today respectively closed at Rs 949.85 and Rs 542.85 per scrip on BSE, down 1.85 and 1.90 per cent from their previous close.