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Business

Granules India receives USFDA nod for metformin hydrochloride tablets

Updated : January 13, 2021 03:20 PM IST

Granules India has received the US FDA nod for metformin hydrochloride tablets. Krishna Prasad Chigurupati, Chairman and MD of the company discussed this opportunity and the outlook going ahead.

“The market size of this product is about USD 190 million. It is a fairly good opportunity but we will have to see what sort of market share we will be getting. We will be launching this product by the end of the month,” he said in an interview with CNBC-TV18.

In terms of re-launching of Glucophage extended-release (ER) 750 mg, he said, “We have been in touch with USFDA for re-launching of this project. This product 750 mg ER is a very small volume, it doesn’t impact our sales.”

On guidance for FY21 and FY22, he said, “For FY21 we have guided for around 70 percent and for FY22 it will be 30 percent over the baseline of FY21.”

For more watch the video

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