Another product candidate in our generics pipeline is metformin hydrochloride extended-release capsules. It is a generic version of the marketed drug Glucophage® XR. This product is currently the subject of an Abbreviated New Drug Application (ANDA) filing with the U.S. Food and Drug Administration (FDA) and is available for partnering.

Glucophage is an oral antihyperglycemia drug used in the management of type 2 diabetes. According to Source Healthcare Analytics, sales of Glucophage® XR were approximately US$388 million for the 12 months ending December 2012.