Glenmark Pharmaceuticals gained 0.82% to Rs 814 at 12:00 IST on BSE after Glenmark Generic Inc, USA, the subsidiary of Glenmark Generics announced the US market approval and introduction of AshlynaTM Extended-Cycle Oral Contraceptive Tablets.
The company made announcement during market hours today, 25 February 2015.
Meanwhile, the S&P BSE Sensex was up 210.24 points or 0.72% at 29,214.90.
On BSE, so far 30,807 shares were traded in the counter as against average daily volume of 57,369 shares in the past two weeks.
The stock hit a high of Rs 818.50 and low of Rs 804.55 so far during the day. The stock had hit a record high of Rs 840.10 on 21 November 2014. The stock had hit a 52-week low of Rs 510 on 19 May 2014.
The stock had outperformed the market over the past one month till 24 February 2015, rising 11.13% compared with 0.94% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, gaining 1.24% as against Sensex's 1.77% rise.
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The large-cap pharma firm has equity capital of Rs 27.13 crore. Face value per share is Re 1.
Glenmark Generic Inc, USA, the subsidiary of Glenmark Generics today, 25 February 2015, announced the US market approval and introduction of AshlynaTM Extended-Cycle Oral Contraceptive Tablets, the generic equivalent of Seasonique from Teva Woman's Health. Seasonique is indicated for use by women to prevent pregnancy. According to IMS Health sales data for the 12 month period ending December 2014, the Seasonique market achieved annual sales of approximately $159.1 million in the US. Glenmark plans to commence shipping of AshlynaTM immediately.
Glenmark Generics is a subsidiary of Glenmark Pharmaceuticals.
Glenmark Pharmaceuticals' consolidated net profit fell 46.9% to Rs 114.77 crore on 6% rise in total income to Rs 1703.43 crore in Q3 December 2014 over Q3 December 2013.
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