India approves Glenmark's remogliflozin and metformin combo for diabetes
Shares of Indian drugmaker Glenmark Pharmaceuticals (BSE: 532296) were up 2.3% at 369.50 rupees by close of trading, after it revealed that it has received regulatory approval to market a combination of its novel, patent protected and globally-researched sodium glucose co-transporter-2 (SGLT2) inhibitor remogliflozin etabonate and metformin film coated tablets in India.
The drug is indicated in the treatment of type-2 diabetes mellitus in adults. Glenmark will commercialize the product under the brand names Remo-M and Remozen-M.
The company had launched remogliflozin as a mono-therapy, at a breakthrough price which is over 50% lower than the existing SGLT2 inhibitors available in India. Prior to the launch of remogliflozin, the average per day therapy cost of SGLT2 inhibitors in India was about 55 rupees ($0.75).
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