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Glenmark Pharma gains with arm receiving USFDA’s approval for Ezetimibe and Simvastatin Tablets

Glenmark Pharmaceuticals is currently trading at Rs. 452.30, up by 3.95 points or 0.88% from its previous closing of Rs. 448.35 on the BSE.

The scrip opened at Rs. 454.00 and has touched a high and low of Rs. 455.00 and Rs. 451.00 respectively. So far 3345 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 711.55 on 10-Sep-2018 and a 52 week low of Rs. 446.80 on 27-Jun-2019.

Last one week high and low of the scrip stood at Rs. 495.00 and Rs. 446.80 respectively. The current market cap of the company is Rs. 12651.01 crore.

The promoters holding in the company stood at 46.54%, while Institutions and Non-Institutions held 39.55% and 13.90% respectively.

Glenmark Pharmaceuticals’ subsidiary — Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Ezetimibe and Simvastatin Tablets, 10 mg/10 mg, 10 mg/20 mg, 10 mg/40 mg, and 10 mg/80 mg, a generic version of Vytorin Tablets, 10 mg/10 mg, 10 mg/20 mg, 10 mg/40 mg, and 10 mg/80 mg, of MSD International GmbH.

According to IQVIA sales data for the 12 month period ending April 2019, the Vytorin Tablets market achieved annual sales of approximately $92.4 million.

Glenmark Pharmaceuticals is a global pharmaceutical company. The company is engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs). Its segments are India, United States, Latin America, Europe and Rest of the World (ROW).

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