Glenmark Pharmaceuticals announced that it has received tentative approval from the U.S. Food and Drug Administration (FDA) to sell the generic version of Schering Plough and MSP Singapore Company LLC’s hypercholesterolemia treatment Zetia (ezetimibe) in the United States.
Glenmark, which has got sanction for 10-milligram tablets of the drug, is likely to get 180 days marketing exclusivity for the drug upon patent expiry.
Zetia recorded sales of $1.5 billion during the last year (2008), the drug maker said in a statement.
The 117-year-old biscuit major Britannia Industries has entered into an agreement with Fonterra Brands (Mauritius Holding) Ltd, Mauritius, for acquiring the latter's 49% Equity and Preference shareholding in Britannia New Zealand Foods Pvt. Ltd (BNZF), their joint venture company engaged in Dairy business.
With this acquisition, Britannia along with its wholly owned subsidiary will hold the entire equity and preference capital of BNZF. The acquisition is subject to Reserve Bank of India approval.