Glenmark Pharmaceuticals rises on USFDA nod for Linezolid tablets

Shares of Glenmark Pharmaceuticals were up nearly 2% at Rs 944 on the Bombay Stock Exchange after the company announced that it has been granted final approval by the US Food and Drug Administration for Linezolid tablets, 600mg.

The tablets are generic equivalent of Zyvox tablets 600mg of Pharmacia and Upjohn Company, a subsidiary of Pfizer, Inc.

For the 12-month period ended October 2015 annual sales of Zyvox 600mg tablets was approximately $447.6 million, according to IMS Health sales data.

The stock opened at Rs 929 and touched a high of Rs 950. At 12:35pm, over 520,000 shares were traded on both the stock exchanges.