Glenmark Pharmaceuticals has decided to quit clinical trails for its experimental Osteoarthritis molecule development. 

Further, its partner Eli Lilly has also suspended further clinical development for GRC 6211, used in Osteoarthritis pain. The Glenmark deal with Eli Lily on GRC6211 was potentially worth USD350 million.

Last October, Glenmark had agreed to sell the marketing rights for its experimental pain treatment molecule to Eli Lilly for an upfront fee of 45 million dollar. 

London - British pharmaceuticals concern GlaxoSmithKline reported Wednesday that it managed to boost profits and sales in the third quarter despite the challenge posed by generic drugs.

GlaxoSmithKline said it earned 25.2 pence per share in the quarter, up from 23.7 pence in the corresponding period last year. Sales gained 7 per cent to 5.88 billion pounds.

The company said the weaker pound sterling had helped boost sales, in turn lessening the effects of the challenge posed by cheaper generic drugs.

New York - Pfizer Inc, the world's largest drug maker, said Tuesday that its quarterly earnings tripled on one-time items despite flat revenues.

Earnings rose to 2.28 billion dollars, or 34 cents a share, on job cuts and a favourable exchange rate, up from 761 million dollars, or 11 cents, in the year-earlier period when it was hit by a one-time charge for dropping an insulin drug, the company said in New York. Excluding one-time costs, profits rose 5 per cent.

Ahmedabad-based Zydus Cadila has informed that the company has received an approval from the US Food and Drug Administration (USFDA) to market Risperidone Tablets.