Glenmark Pharmaceutical Ltd said its unit received abbreviated new drug application (ANDA) approval from the US Food and Drug Administration (USFDA) to introduce Theophylline extended-release tablets in the US market.
Theophylline extended-release tablets, used in treatment of chronic asthma and other chronic lung diseases, are the generic version of LP Uniphyl of Purdue Pharmaceutical Products. Glenmark’s extended-release tablets are available in strengths of 400 mg and 600 mg. The company will commence marketing and distribution of this product in the US.
According to IMS Health, Theophylline extended-release tablets had annual sales of $8 million.
On Wednesday, Glenmark shares closed 0.6% up at Rs279 on the Bombay Stock Exchange, while the Sensex ended at 0.3% down at 17,938 points.
Tulip Telecom Ltd said its subsidiary Tulip Telecom Inc received a clearance from the Federal Communications Commission (FCC), which enables the company to sell data connectivity services in the US.
Having received this clearance, the data connectivity service provider now has the authority to provide resale services in accordance with the commission's rules to serve US based customers that may have connectivity requirements into India and other parts of the world, it said in a regulatory filing.
On Wednesday, the company shares closed 1% up at Rs173 on the Bombay Stock Exchange, while the Sensex ended at 0.3% down at 17,938 points.
Barclays Wealth, the wealth management division of Barclays PLC, said it appointed Rahul Ahuja as its director.
Mr Ahuja will be based out of Delhi and will be responsible for servicing and growing the private client base of Barclays Wealth in India, targeting specifically family business owners. In this role, he reports to Vishal Jain, Director, based in Mumbai.
Mr Ahuja was working with Standard Chartered Bank where he was a Team Leader for North India for the Middle Market segment within the wholesale bank.