Wanbury Ltd. Secures Sertraline Form II Approval in Brazil; Metformin Business Opportunity Worth ₹15 Cr/Annum
Wanbury Limited received Sertraline Form II approval from ANVISA, Brazil, aiming to further consolidate its 75% market share. The company also secured approval for a special grade of metformin DC grade from a large customer, with an estimated annual business opportunity of ₹15 crore. Manufacturing sites remain cGMP compliant.
The Sertraline Form II approval in Brazil and the potential ₹15 crore annual business from metformin are material developments that are likely to have a significant positive impact on the company's revenue and market position.
The company has received a significant product approval in Brazil and a substantial business opportunity for a new grade of metformin, both of which are expected to positively impact its market share and revenue.
Wanbury Limited (WL) has announced the receipt of Sertraline Form II approval from ANVISA, Brazil. This approval is in addition to the existing Sertraline hydrochloride Form 1 approval already held by the company. WL currently commands a significant 75% market share for sertraline in the Brazilian market, and this new approval is expected to further consolidate its business share.
Furthermore, WL has received approval from a major customer for a special grade of metformin DC grade. This collaboration presents a potential business opportunity estimated at ₹15 crore per annum. Both of Wanbury's API manufacturing sites, located in Patalganga and Tanuku, continue to operate in compliance with cGMP Rules and Regulations.
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