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Last Updated : Feb 18, 2019 09:36 AM IST | Source: Moneycontrol.com

Glenmark Pharma rises 4% on USFDA final approval

The share touched its 52-week high Rs 711.55 and 52-week low Rs 483.60 on 10 September, 2018 and 30 May, 2018, respectively.

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Shares of Glenmark Pharma added nearly 4 percent in the early trade on Monday after it received final approval by the USFDA for Clobetasol Propionate Foam.

It has touched an intraday high of Rs 591.80 and an intraday low of Rs 569.00.

Glenmark Pharmaceuticals Inc., USA has been granted final approval by the (USFDA) United States Food & Drug Administration for Clobetasol Propionate Foam, 0.05%, a generic version of Olux Foam of Mylan Pharmaceuticals, Inc.

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As per the IQVIATM sales data for the 12 month period ending December 2018, the Olux Foam market achieved annual sales of approximately USD 50.9 million.

Glenmark’s current portfolio consists of 150 products authorized for distribution in the US marketplace and 52 ANDA’s pending approval with the USFDA.

In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.

At 09:28 hrs Glenmark Pharma was quoting at Rs 575.25, up Rs 5.60, or 0.98 percent on the BSE.

The share touched its 52-week high Rs 711.55 and 52-week low Rs 483.60 on 10 September, 2018 and 30 May, 2018, respectively.

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First Published on Feb 18, 2019 09:36 am
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