New Delhi: Glenmark Pharmaceuticals has received approval for generic Salmecort MDI inhaler used for management of asthma and pulmonary disease from Russia's Ministry of Health.
The approval is for 25mcg+50mcg/dose, 25 mcg + 125 mcg/dose and 25 mcg + 250 mcg/dose formulation strengths, the company said in a statement.
Glenmark Chairman & MD Glenn Saldanha said: "We want to be a significant player in the respiratory space in emerging markets and hence the generic Seretide approval (Salmecort) in Russia, one of the key countries for the company, is an important development for the organisation."
According to IMS, the total inhaler market in Russia is estimated to be around USD 283 million, out of which the total MDI market is valued at around USD 107 million, Glenmark said.
Salmecort is expected to be available in the Russian market in second quarter of fiscal year 2015-16, it added.
"Respiratory along with dermatology are focus therapeutic segments for Glenmark Russia and the launch of Salmecort will further strengthen our equity in this niche category," Glenmark Russia General Director & Country Manager Elena Astakhova said.
The product is used in the management of asthma and chronic obstructive pulmonary disease (COPD), Glenmark said.
The Glenmark scrip closed at Rs 838, up 0.73 percent, on the BSE.
