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Ban on nitroglycerine won’t impact revenues adversely: Glenmark

Ban on nitroglycerine won’t impact revenues adversely: Glenmark
PTI
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First Published: Wed, Mar 17 2010. 01 27 PM IST
Updated: Wed, Mar 17 2010. 01 27 PM IST
New Delhi: Glenmark Pharmaceuticals on Wednesday said that the US Food and Drug Administration (USFDA) order asking it to stop selling unapproved nitroglycerine tablets, used to relieve chest pain, will not have a significant bearing on earnings in the next fiscal.
We believe that the sales from nitroglycerin tablets will not have a significant bearing on our FY 2010-11 financial numbers, the company said in a statement without disclosing the revenues from the tablets.
The company said that it is evaluating the situation and will take appropriate measures.
USFDA on Tuesday issued warning letters to Glenmark Generics (the US subsidiary of Glenmark) and Konec Inc to stop marketing unapproved nitroglycerin tablets, stating they have not been proven safe and effective.
The tablets are placed under the tongue to relieve chest pain or to stop a heart attack and are marketed in 0.3 mg, 0.4 mg, and 0.6 mg dosages, the agency said.
Glenmark shares were trading at Rs240.15, up 2.08% from previous close at the National Stock Exchange (NSE) during mid-day trade.
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First Published: Wed, Mar 17 2010. 01 27 PM IST