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Glenmark Pharma Share Price Gain 1.23% on Launch of Lacosamide Oral Solution in the US

Updated on: Dec 16, 2024, 3:27 PM IST
Glenmark shares rose 1.23% as it launched Lacosamide Oral Solution in the US, a seizure medication equivalent to Vimpat, targeting a $57M market.
Glenmark Pharma Share Price Gain 1.23% on Launch of Lacosamide Oral Solution in the US
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Glenmark Pharmaceuticals share price rose on Monday, December 16, at 10:32 AM the stock was trading 1.23% higher at ₹1,536.80 apiece amidst the announcement of a new product launch in the US market. The stock has seen a 79.61% increase so far in 2024.

The company revealed that its US-based subsidiary has introduced Lacosamide Oral Solution, 10 mg/ml, a medication for treating seizures. This solution is bioequivalent and therapeutically equivalent to Vimpat Oral Solution, 10 mg/ml, developed by UCB, Inc. It is indicated for managing partial-onset seizures and primary generalized tonic-clonic seizures.

As per IQVIA’s sales data for the year ending October 2024, the Vimpat Oral Solution market recorded annual sales of approximately $57 million. Marc Kikuchi, President and Business Head for North America at Glenmark Pharma, expressed the company’s enthusiasm about the launch, stating it reinforces their commitment to delivering high-quality, affordable alternatives for patients.

Promising Results From Phase 1 for Cancer Therapy

Glenmark Pharma recently shared promising updates from its oncology pipeline. Initial clinical data from the Phase 1 study of its trispecific TREAT antibody, ISB 2001, for treating heavily pretreated multiple myeloma, showcased a strong overall response rate (ORR) and durable responses with a favourable safety profile.

The data, encompassing results from 20 patients treated as of October 1, 2024, demonstrated an ORR of 75% across all tested doses, which ranged from 0.005 to 1.2 mg/kg. The study reported a stringent complete remission (sCR) and complete remission (CR) rate of 20%.

Glenmark noted that these findings position ISB 2001 as a potentially competitive option against approved bispecific therapies for multiple myeloma, underscoring its innovative approach to addressing unmet medical needs.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Published on: Dec 16, 2024, 12:39 PM IST

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