Glenmark Pharmaceuticals is trading higher by 1.4% at Rs 546, extending its Tuesday’s 2.2% gain after the company announced the USFDA approval to Salix Pharmaceuticals for marketing anti-diarrheal drug Crofelemer.
Crofelemer is used to relieve symptoms of diarrhea in HIV/AIDS patients undergoing anti-retroviral therapy.
Glenmark will be the active pharmaceutical ingredients supplier for the drug to Salix in regulated markets.
Meanwhile, Glenmark Generics, the US subsidiary of the company said that the United States Food and Drug Administration (USFDA) have granted final approval for Rizatriptan Benzoate Tablets, its generic version of Merck’s Maxalt tablets.
The tablets achieved sales of $333 million for the 12 month period ending September 2012, according to IMS Health.
The stock opened at Rs 544 and hit a high of Rs 548 on the NSE. A combined around 87,000 shares have changed hands on the counter in morning trades on both the exchanges.
