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"Glenmark Generics Ltd has received ANDA approval from the United States Food and Drug Administration for Verapamil 240mg tablets," Glenmark Pharmaceuticals said in a statement today.
Verapamil is a generic version drug which is used for the management of essential hypertension.
The total sales of Verapamil for the 12-month ended June 2009 was US$65 million, according to an industry estimate.
The company will soon commence marketing and distribution in the US market, Glenmark Generics said.
"This approval and launch holds significance for Glenmark Generics as it marks our entry into the extended release segment which is a differentiated and niche segment," Glenmark Generics CEO Terrance Coughlin said.
Shares of Glenmark Pharma were trading at Rs 222.50, up 2.37 per cent in afternoon trade on the Bombay Stock Exchange.
(PTI) cg
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