Glenmark opened with a positive bias, opening higher at Rs.411.45 and going on to an intraday high at Rs.441. Its 10% UC of the day is at Rs.450.10.
The company today morning announced that its the first company to launch in India a Triple FDC of Teneligliptin + Pioglitazone + Metformin for Adults with Type 2 Diabetes & High Insulin Resistance, under the brand name Zita-PioMet.
The novel triple FDC will help improve glycemic control among adults with High HbA1ci and high insulin resistance, those whose diabetes is uncontrolled by metformin alone; and those who require the addition of Teneligliptin and Pioglitazone as separate drugs thus improving adherence with single pill.
Priced at Rs. 14.90 per day, it will reduce the daily cost of therapy by 40%, making it more affordable to the masses.
According to IQVIA sales data for the 12-month period ending November 2022, the market for oral anti-diabetic drugs in India is estimated to be Rs. 11,877 Cr. with an annual growth of 6.3% against the corresponding period last year (MAT November 2021). As per the International Diabetes Federation (IDF), the prevalence of diabetes in India is expected to increase to 125 million by 2045, 77% of which would have uncontrolled diabetes.