Glenmark Pharmaceuticals rose 1.9% to Rs 849 at 10:45 IST on BSE after the company received ANDA approval from the USFDA for Rosuvastatin Calcium Tablets.
The announcement was made during market hours today, 20 July 2016.Meanwhile, the BSE Sensex was up 63.44 points, or 0.23%, to 27,851.06.
On BSE, so far 16,973 shares were traded in the counter, compared with an average volume of 43,738 shares in the past one quarter. The stock hit a high of Rs 856.50 and a low of Rs 846.40 so far during the day. The stock hit a record high of Rs 1,261.95 on 21 August 2015. The stock hit a 52-week low of Rs 671.50 on 12 February 2016. The stock had outperformed the market over the past one month till 19 July 2016, gaining 10.01% compared with 4.36% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 5.45% as against Sensex's 7.64% rise.
The large-cap company has an equity capital of Rs 28.22 crore. Face value per share is Re 1.
Glenmark Pharmaceuticals announced that it has been granted final approval by the United States Food & Drug Administration (USFDA) for Rosuvastatin Calcium Tablets, 5 mg (base), 10 mg (base), 20 mg (base), and 40 mg (base), the generic version of Crestor Tablets, 5 mg, 10 mg, 20 mg and 40 mg of IPR Pharmaceuticals, Inc.
According to IMS Health sales data for the twelve month period ended May 2016, Rosuvastatin Calcium Tablets, 5 mg (base), 10 mg (base), 20 mg (base), and 40 mg (base), market achieved annual sales in US of approximately $6.78 billion.
On a consolidated basis, Glenmark Pharmaceuticals' net profit jumped 1516.31% to Rs 171.49 crore on 24% rise in net sales to Rs 2174.02 crore in Q4 March 2016 over Q4 March 2015.
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Glenmark Pharmaceuticals is a research-driven, global, integrated pharmaceutical organization headquartered at Mumbai, India. Glenmark has several molecules in various stages of clinical development and is primarily focused in the areas of Inflammation (asthma/COPD, rheumatoid arthritis etc.) and pain (neuropathic pain and inflammatory pain).
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