Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (U.S. FDA) for Colesevelam Hydrochloride for Oral Suspension, 1.875 grams/Packet and 3.75 grams/Packet, the generic version of Welchol 1 for Oral Suspension, 1.875 grams/Packet and 3.75 grams/Packet, of Daiichi Sankyo Inc.

According to IQVIATM sales data for the 12 month period ending May 2018, Welchol for Oral Suspension, 1.875 grams/Packet and 3.75 grams/Packet achieved annual sales of approximately USD 73.0 million.

Glenmark's current portfolio consists of 138 products authorized for distribution in the U.S. marketplace and 62 ANDA's pending approval with the U.S. FDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.

Shares of the company gained Rs 6.65, or 1.21%, to trade at Rs 558.25. The total volume of shares traded was 6,651 at the BSE (9.30 a.m., Tuesday).