Gland Pharma shares gained four per cent in trade on May 7, after the pharma major received the US FDA’s nod for Plerixafor injection. The injection is used to treat certain types of cancer.
The pharma company in another release also mentioned that it got the USFDA’s approval for the edaravone injection which is used to treat amyotrophic lateral sclerosis, a condition in which the nerves that control muscle movement slowly die, causing the muscles to weaken and shrink.
In the first stock exchange filing, the pharma company said that Plerixafor is a bioequivalent and therapeutically equivalent to Sanofi India’s reference listed drug MOZOBIL (plerixafor) injection. Gland Pharma informed the bourses that it plans to launch the product through its marketing partner by FY25.
The release also mentioned that the product’s US sales amounted to approximately $152 million for the twelve months ending January 2024, according to IQVIA’s data.
Gland Pharma shares have gained more than 21per cent in the last one year. However, the stock dropped over 17per cent in the past three months.
Last month, Gland Pharma received approval from the US drug regulator for Cetrorelix Acetate injection, which is used in women undergoing fertility treatment.
Gland Pharma also received a nod from the US FDA for Edaravone injection. The product is a bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Radicava injection of Mitsubishi Tanabe Pharma Corporation.
The injection is used to treat amyotrophic lateral sclerosis (ALS), a condition in which the nerves that control muscle movement slowly die, causing the muscles to shrink and weaken.
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