Glenmark Pharmaceuticals share price touched 52-week high of Rs 1,429.95 in the early trade on July 18 after the company received final approval by the United States Food & Drug Administration (USFDA) for Topiramate Capsules USP, 15 mg and 25 mg.
At 09:28am, Glenmark Pharma was quoting at Rs 1,419.90, up Rs 9.40, or 0.67 percent, on the BSE.
The Topiramate capsules has been determined by the FDA to be bioequivalent and therapeutically equivalent to Topamax Capsules, 15 mg and 25 mg of Janssen Pharmaceuticals, Inc., and will be distributed in the US by Glenmark Pharmaceuticals Inc., USA.
Glenmark’s current portfolio consists of 198 products authorized for distribution in the US market place and 50 ANDA’s pending approval with the US FDA.
In addition to these internal filings, company continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio, Glenmark said.
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The company board at its meeting held today on July 10, 2024, approved the sale of up to 96,09,571 equity shares of Glenmark Life Sciences Limited representing 7.84 percent of the issued and paid‐up equity share capital of GLS, held by the Company, by way of an offer for sale through the stock exchange mechanism.
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