Glenmark Pharma inks settlement pact with Pfizer for cancer drug

Glenmark Pharmaceuticals on Tuesday said it has entered into a settlement agreement with Pfizer Inc regarding a cancer treatment drug.

The Mumbai-based drug maker and its US-based unit have inked a settlement pact with drug major Pfizer Inc for Axitinib Tablets (1 mg and 5 mg).

Glenmark's product is the generic version of Pfizer's Inlyta tablets, used to treat kidney cancer.

According to IQVIATM sales data for the 12-month period ending September 2022, the Inlyta tablets (1 mg and 5 mg) achieved annual sales of around USD 644.5 million.

Glenmark said its current portfolio consists of 177 products authorised for distribution in the US marketplace and 47 abbreviated new drug applications (ANDA's) are pending for approval with the US Food and Drug Administration.

Shares of of the drug maker were trading 1.54 per cent up at Rs 417.9 apiece on BSE.