Glenmark Pharma - batch of crofelemer API

Glenmark Pharmaceuticals has reported the successful production of crofelemer active pharmaceutical ingredient (API). The product is for use in pivotal Phase III trials by Napo Pharmaceuticals, Inc in the USA. The company is manufacturing this API at a dedicated unit at its US FDA approved facility in Ankleshwar.

However, the company is also working on a development plan for the indications of AIDS related diarrhoea and pediatric diarrhoea. The company recently received approval from the Drug Controller General of India (DGCI) to initiate Phase II trials for acute infectious diarrhoea.

However the shares of Glenmark Pharma are down by 3% at Rs526 on volumes of 1,405,000 shares on the BSE.