Drug major Glenmark Pharma Tuesday announced the launch of its anti-diabetes drug Remogliflozin in India.
"Glenmark is the first company in the world to launch the novel SGLT2 inhibitor Remogliflozin and India is the first country to get access to this innovative drug...The drug is indicated in the treatment of type-2 diabetes mellitus in adults," the company said in a regulatory filing.
SGLT2 inhibitors are oral anti-diabetes drugs that provide glycemic control, induce weight loss and reduce cardiovascular risks.
Glenmark said it will commercialise Remogliflozin in India under the brand names 'Remo' and 'Remozen'.
Glenmark said it received regulatory approval for Remogliflozin etabonate 100 mg tablets after successfully completing phase-3 clinical trials.
"Diabetes is a key area of focus for Glenmark and with the launch of Remogliflozin, the company aims to improve access to SGLT2 inhibitors by providing an effective, high quality and world-class treatment option to patients in India," said Sujesh Vasudevan, President, India Formulations, Middle East and Africa at Glenmark Pharmaceuticals.
Quoting IQVIA data, Glenmark Pharma said India's diabetes market is estimated at Rs 11,413 crore as of MAT March 2019. The market size of SGLT2 inhibitors is estimated at Rs 574 crore as of MAT March 2019.
Shares of Glenmark Pharma were trading 0.64 per cent higher at Rs 649.50 apiece on BSE.