Saturday , October 23 2021

Glenmark Pharmaceuticals gains on getting USFDA’s approval for Clindamycin Phosphate Foam

Glenmark Pharmaceuticals is currently trading at Rs. 505.00, up by 10.05 points or 2.03% from its previous closing of Rs. 494.95 on the BSE.

The scrip opened at Rs. 491.25 and has touched a high and low of Rs. 506.65 and Rs. 489.10 respectively. So far 94808 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 690.60 on 19-Jul-2021 and a 52 week low of Rs. 441.65 on 22-Sep-2020.

Last one week high and low of the scrip stood at Rs. 539.65 and Rs. 489.10 respectively. The current market cap of the company is Rs. 14154.97 crore.

The promoters holding in the company stood at 46.63%, while Institutions and Non-Institutions held 36.55% and 16.82% respectively.

Glenmark Pharmaceuticals has received final approval by the United States Food & Drug Administration (USFDA) for Clindamycin Phosphate Foam, 1%, the generic version of Evoclin Foam, 1%, of Mylan Pharmaceuticals Inc. According to IQVIA sales data for the 12 month period ending July 2021, the Evoclin Foam, 1%, market achieved annual sales of approximately $12.0 million.

Glenmark’s current portfolio consists of 173 products authorized for distribution in the U.S. marketplace and 47 ANDA’s pending approval with the U.S. FDA. 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.

Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.

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