Glenmark Generics receives USFDA approval for two new drugs

Glenmark’s current portfolio consists of 76 products authorized for distribution in the US marketplace.

Glenmark Generics, USA, the subsidiary of Glenmark Generics has announced that they have been granted final approval for two abbreviated new drug approvals (ANDA’s) from the United States Food and Drug Administration (USFDA).

Today’s approvals are for Ciclopirox Gel 0.77% and Levonorgestrel & Ethinyl Estradiol Tablets USP, 0.15 mg/0.03 mg. Glenmark will market this approved oral contraceptive as MarlissaTM Tablets and plan to commence shipping both products immediately.

Ciclopirox Gel 0.77%, is the generic version of Loprox Gel, 0.77%, of Medicis Pharmaceutical Corporation. Ciclopirox Gel is indicated for the topical treatment of seborrheic dermatitis of the scalp and is available in 30, 45, and 100 gram tube presentations. According to IMS Health sales data for the 12 month period ending September 2011, Ciclopirox Gel garnered annual sales of greater than USD 10 million. Marlissa Tablets are Glenmark’s generic version of Nordette tablets by Duramed Pharmaceuticals.

Marlissa tablets are indicated for the prevention of pregnancy in women who elect to use oral contraceptives as a method of contraception. According to IMS Health for the 12 month period ending September 2011 total market sales achieved for Levonorgestrel and Ethinyl Estradiol Tablets USP, 0.15 mg/0.03 mg were approximately USD 50.84 million. Today’s approval marks Glenmark’s eight female hormonal product authorized for distribution by the USFDA.

Glenmark’s current portfolio consists of 76 products authorized for distribution in the US marketplace. In addition to these internal filings, GGI continues to identify and explore external development partnerships to supplement and accelerate the growth of the existing pipeline and portfolio.

In the early afternoon, Glenmark Pharmaceuticals was trading at around Rs311.10 per share on the Bombay Stock Exchange, 0.94% up from the previous close.

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Maruti Suzuki February sales rises 6.5% to 118,949 units

Domestic sales went up by 6% to 1,07,653 vehicles in February 2012 compared with same period last year.

Maruti Suzuki India announced a rise of 6.5% in sales to 118,949 vehicles in February 2012 led by strong exports growth. The company had sold a total of 111,645 vehicles in February 2011. This includes 11,296 units for export, a growth of 11.8%.

Domestic sales went up by 6% to 1,07,653 vehicles in February 2012 compared with same period last year.

In the early afternoon, Maruti Suzuki India was trading at around Rs1,305.15 per share on the Bombay Stock Exchange, 3.89% up from the previous close.

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Exports grow 10.1% in January to $25.34 billion

For the cumulative April-January period, exports totalled $242.79 billion, a growth of 23.47%, thanks to sterling trend witnessed in the previous months of the current fiscal. Imports during same period stood at $391.45 billion, an increase of 29.4% leaving a trade gap of $148.66 billion

New Delhi: India’s exports grew by 10.1% year-on-year in January to $25.34 billion despite weak demand in the Western markets, reversing a declining trend shown since the peak of July 2011, reports PTI.

However, the exports growth rate was a marginal increase over December 2011. The shipments had grown by 6.7% year-on-year in December 2011.

Imports grew at a faster rate of 20.25% to $40.1 billion, leaving a trade deficit of $14.76 billion, according to the commerce ministry data released on Thursday.

From a peak of 82% in July 2011, export growth has slipped to 44.25% in August 2011, 36.36% in September 2011 and 10.8% in October last year.

But, for the cumulative April-January period, exports aggregated to $242.79 billion showing a healthy growth of 23.47%, thanks to sterling trend witnessed in the previous months of the current fiscal.

Imports during the 10-month period stood at $391.45 billion, an increase of 29.4%. The trade gap aggregated to $148.66 billion.

Commerce secretary Rahul Khullar has said that the exports and imports may touch about $300 billion and $460 billion, respectively, while the balance of trade would be around $160 billion. He has also cautioned that the exporters’ community would face demand problem in 2012-13 as well.

Federation of Indian Export Organisations (FIEO) president Rafeeque Ahmed said the figures clearly indicate that 2012 would be a difficult year for exports in view of growing uncertainty in the Eurozone area, slacking of demand in other advance economies and third country effect on India’s exports to emerging economies.

Oil imports in January were valued at $12.32 billion which was 26.78% higher than in January 2011. Non-oil imports during the month increased by 17.56% to $27.78 billion.

During April-January 2011-12, oil imports went up by 38.83% to $117.91 billion from $84.93 billion in the corresponding period last year.

Non-oil imports were up by 25.71% to $273.54 billion over the same period last year.

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