Gland Pharma made a significant announcement on Monday, revealing its latest milestone achievement: receiving approval from the US health regulatory body for the marketing of a generic medication tailored for treating breast cancer.
In a statement released, Gland Pharma disclosed that it has secured the green light from the US Food and Drug Administration (USFDA) for the distribution of Eribulin Mesylate Injection (0.5 mg/mL single dose vial).
This groundbreaking approval positions the product as the eagerly awaited first generic alternative available in the market. The company is now gearing up to swiftly bring this vital medication to patients in need through its trusted marketing partner.
Insights from IQVIA shed light on the market potential of this newly approved medication, with sales figures reaching an impressive USD 92 million in the US alone over the 12-month period ending in February 2024.
Gland Pharma underscored its collaborative approach, particularly in the development of complex injectables, including the aforementioned breast cancer treatment, which it co-developed with Orbicular Pharmaceutical Technologies Pvt Ltd.
Investors and stakeholders took notice of this significant development, as reflected in Gland Pharma’s stock performance on Monday. The company’s shares surged by 5.59%, closing the trading day at Rs 1,853.25 per share on the Bombay Stock Exchange (BSE).
This latest achievement not only marks a major milestone for Gland Pharma but also represents a significant step forward in enhancing access to critical treatments for patients battling breast cancer.