Glenmark Pharmaceuticals rose 2.26% to Rs 698.70 at 11:40 IST on BSE after the company announced that it has secured marketing authorization in Germany for its generic version of Seretide Accuhaler.
The announcement was made during market hours today, 10 September 2018.Meanwhile, the S&P BSE Sensex was down 265.30 points, or 0.69% to 38,124.52
On the BSE, 1.45 lakh shares were traded in the counter so far compared with average daily volumes of 74,000 shares in the past two weeks. The stock had hit a high of Rs 711.55 and a low of Rs 685 so far during the day.
Glenmark Pharmaceuticals announced today that its subsidiary Glenmark Arzneimittel GmbH has secured marketing authorization in Germany for Fluticasone/Salmeterol dry powder inhaler (DPI), a generic version of GlaxoSmithKline's Seretide Accuhaler. Fluticasone/Salmeterol DPI is a combination product for the treatment of asthma and chronic obstructive pulmonary disease (COPD). Glenmark will sell the product in Germany under the name SALFLUTIN.
Glenmark had entered into a strategic development and licensing agreement with Celon Pharma S.A. (Celon) in 2015 to develop and market generic Fluticasone/Salmeterol DPI in 15 European countries. The company has already launched this product in Denmark, Sweden and Norway. According to IQVIA data, Fluticasone/Salmeterol dry powder inhaler (DPI) had sales of $844 million in Europe in the 12 month period ended March 2018.
Glenmark Pharmaceuticals is a research-driven, global, integrated pharmaceutical organization.
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