US approval gives Bangladeshi company competitor to B-MS' Glucophage
Fast-growing Bangladeshi generic drugs company Beximco Pharmaceuticals (AIM: BXP) has received approval from the US Food and Drug Administration (FDA) for a generic equivalent of Glucophage XR tablets (metformin hydrochloride).
Annual sales in the USA for Glucophage XR, which is sold by US pharma major Bristol-Myers Squibb (NYSE: BMY) and is indicated as an adjunct to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus, were $918 million for the 12 months ending October 31, 2016, according to IMS data.
"We expect to launch this product through our US distribution partner during the middle of 2017"
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