On Tuesday, Glenmark Pharmaceuticals said it had reached a settlement with Pfizer over a cancer treatment drug.
The Mumbai-based drugmaker and its US subsidiary signed a settlement agreement with pharmaceutical giant Pfizer over Axitinib tablets (1 mg and 5 mg).

Glenmark’s product is a generic version of Pfizer’s Inlyta tablets used to treat kidney cancer. Based on IQVIATM sales data for the 12 months ending September 2022, annual sales of Inlyta tablets (1 mg and 5 mg) are approximately $644.5 million.

Glenmark said its current portfolio includes 177 products approved for the US market and 47 Abbreviated New Drug Applications (ANDAs) awaiting USFDA approval. Shares of the drugmaker rose 1.54% to Rs 417.9 per share on the BSE.