The approved product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), MOZOBIL (plerixafor) injection of Genzyme Corporation, a Sanofi Company.

Gland Pharma stated that the product is a hematopoietic stem cell mobilizer indicated in combination with filgrastim to mobilize hematopoietic stem cells (HSCs) to the peripheral blood for collection and subsequent autologous transplantation in patients with non-Hodgkin's lymphoma or multiple myeloma.

The company expects to launch this product through its marketing partner within FY25.

According to IQVIA, the product had US sales of approximately $152 million for the twelve months ending January 2024.

Gland Pharma is one of the largest and fastest growing injectable-focused companies, with a global footprint across 60 countries, including the United States, Europe, Canada, Australia, India, and other markets. It has a wide range of injectables, including vials, ampoules, pre-filled syringes, lyophilized vials, dry powders, infusions, oncology, and ophthalmic solutions. The company also pioneered Heparin technology in India.

The company’s consolidated net profit fell 17.28% to Rs 191.86 crore in Q3 FY24 as against with Rs 231.95 crore posted in Q3 FY23. Revenue from operations jumped 64.68% to Rs 1,545.2 crore in Q3 FY24 as against Rs 938.29 crore recorded in Q3 FY23.

The scrip shed 0.33% to currently trade at Rs 1699.50 on the BSE.