Moneycontrol
Last Updated : Mar 18, 2019 02:20 PM IST | Source: Moneycontrol.com

Glenmark Pharma rises nearly 2% on USFDA approval

Company's current portfolio consists of 151 products authorized for distribution in the US marketplace and 53 ANDA’s pending approval with the USFDA.

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Shares of Glenmark Pharma rose nearly 2 percent intraday Friday after it received final approval from USFDA for Clindamycin and Benzoyl Peroxide Gel.

According to company release on BSE, Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Clindamycin and Benzoyl Peroxide Gel, 1%|5%, a generic version of BenzaClin Gel, 1%|5%, of Valeant Bermuda.

The BenzaClin Gel, 1% | 5% market achieved annual sales of approximately USD 99.4 million, as per IQVIATM sales data for the 12 month period ending January 2019.

Company's current portfolio consists of 151 products authorized for distribution in the US marketplace and 53 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, it added.

At 09:40 hrs Glenmark Pharma was quoting at Rs 641.10, up Rs 10.70, or 1.70 percent on the BSE.

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First Published on Mar 15, 2019 09:50 am
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