Glenmark completes phase-III trial for Crofelemer

Glenmark completes phase-III trial for Crofelemer

Mumbai: Glenmark Pharmaceuticals said on Monday it has completed phase-III trials for its Crofelemer drug, sending its shares up more than 4% in early trades.

The drug, used in the treatment of HIV-associated diarrhoea, would be launched in 140 countries, it said in a statement.

Glenmark has developed Crofelemer with its partners Napo Pharmaceuticals and Salix Pharmaceuticals, it said.

The Mumbai-based drugmaker has exclusive marketing and distribution rights to this compound across 140 countries and is also the sole global supplier of active pharmaceutical ingredients except in China, it added.

Glenmark would invest significant resources to fast-track its development plan to ensure early regulatory approvals for Crofelemer and launch it in most of the markets, Glenn Saldanha, chief executive and managing director, Glenmark, said in a statement.

The firm expects approval for the drug in India in 2012, it said. At 9:41am, shares of Glenmark Pharmaceuticals were trading at Rs373.10, up 2.51% in a weak Mumbai market.