Glenmark Pharma share price rises on US FDA final approval

Glenmark Pharma share price gains intraday on January 28 after the company received final approval from the United States Food & Drug Administration (US FDA).

Glenmark Pharmaceuticals has received final approval by the United States Food & Drug Administration (USFDA) for Amphetamine Sulfate Tablets USP, 5 mg and 10 mg, the generic version of Evekeo Tablets, 5 mg and 10 mg, of Arbor Pharmaceuticals, LLC, company said in a release.

According to IQVIATM sales data for the 12 month period ending November 2020, the Evekeo Tablets, 5 mg and 10 mg market2 achieved annual sales of approximately USD 21.5 million.

Glenmark’s current portfolio consists of 168 products authorized for distribution in the US marketplace and 43 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 11:30 hrs Glenmark Pharma was quoting at Rs 488.55, up Rs 2.65, or 0.55 percent on the BSE.

The share touched its 52-week high Rs 572.70 and 52-week low Rs 168 on 22 June, 2020 and 13 March, 2020, respectively.

Currently, it is trading 14.69 percent below its 52-week high and 190.8 percent above its 52-week low.