Glenmark Pharma up on plans to out-license molecule for pain management

Shares of Glenmark Pharmaceuticals were up nearly 3% at Rs 800 as the company is planning to out-license its molecule for pain management.

The molecule, GRC 17536, is expected to have a market potential worth $1 billion. According to people in the know, Glenmark is in talks with a few multinational giants and a deal is likely in a couple of months.

The molecule has successfully completed phase-II trials on 138 patients in Europe and India.

The stock opened at Rs 797 and touched a high of Rs 806 on the Bombay Stock Exchange. At 9:25AM, over 11,000 shares were traded on both the stock exchanges.