Shares of Glenmark Pharmaceuticals Ltd gained in morning trade on Wednesday, October 18, after the company announced the launch of a triple-drug fixed-dose combination (FDC) of Teneligliptin with Dapagliflozin and Metformin, which is used to treat type 2 diabetes in adults with comorbidities.
In a filing to the
stock exchanges, Glenmark said that the drug needs to be taken once daily, under prescription, to improve glycemic control in patients with type 2 diabetes.
The drug, which is priced at Rs 14 per tablet, will reduce the daily cost of therapy by 30%, the company said.
The new product has been launched under the brand name Zita DM, and it comprises DPP4 inhibitor, Teneligliptin (20mg), SGLT2 inhibitor, Dapagliflozin, (10mg), and Metformin SR (500mg/1000mg) in a fixed dose.
"We are proud to introduce Zita DM, a novel and affordable anti-diabetic drug, which helps improve glycemic control among adult patients with high HbA1c and other co-morbidities; while also reducing major renal and cardiac adverse events,” said Alok Malik, President and Business Head ‐ India Formulations, Glenmark Pharma.
Glenmark said its Zita portfolio of medicines has been helping around 1.75 million type 2 diabetic patients annually, in India.
According to IQVIA sales data for the 12 months ended August 2023, the market for oral anti‐diabetic drugs in the country is estimated to be Rs 12,522 crore, with an annual increase of 6.5% against the corresponding period last year.
At 9.36 AM, shares of Glenmark Pharma were trading 0.96% higher at Rs 809.15 on the BSE.
