Glenmark Pharmaceuticals rose 0.49% to Rs 893.50 at 9:53 IST on BSE after the company said it received abbreviated new drug application approval for Tretinoin capsules.
The announcement was made during trading hours today, 27 December 2016.Meanwhile, the BSE Sensex was up 70.88 points, or 0.27%, to 25,877.98.
On the BSE, so far 11,000 shares were traded in the counter, compared with average daily volumes of 58,492 shares in the past one quarter. The stock had hit a high of Rs 900.95 and a low of Rs 883.50 so far during the day.
The stock hit a 52-week high of Rs 993 on 1 November 2016. The stock hit a 52-week low of Rs 671.50 on 12 February 2016.
Glenmark Pharmaceuticals Inc., USA (Glenmark) received final approval from the United States Food & Drug Administration (USFDA) for Tretinoin capsules, 10 milligrams (mg), the generic version of Vesanoid capsules, 10 mg, of Hoffmann La Roche, Inc. (which is no longer being marketed in the United States).
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According to IMS Health sales data for the 12 month period ending October 2016, the Vesanoid Capsules, 10 mg market achieved annual sales of approximately $22 million.
Glenmark's current portfolio consists of 112 products authorized for distribution in the US marketplace and 63 abbreviated new drug application (ANDA)'s pending approval with the USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.
On a consolidated basis, Glenmark Pharmaceuticals' net profit rose 3.46% to Rs 223.59 crore on 15.67% rise in net sales to Rs 2173.18 crore in Q2 September 2016 over Q2 September 2015.
Glenmark Pharmaceuticals is a research‐driven, global, integrated pharmaceutical organization headquartered at Mumbai, India.
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