Glenmark Pharma surges as its arm launches Fingolimod Capsules in US
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Glenmark Pharmaceuticals is currently trading at Rs. 413.00, up by 8.60 points or 2.13% from its previous closing of Rs. 404.40 on the BSE.
The scrip opened at Rs. 407.10 and has touched a high and low of Rs. 415.75 and Rs. 406.30 respectively. So far 42590 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 551.50 on 26-Nov-2021 and a 52 week low of Rs. 348.90 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 415.75 and Rs. 378.45 respectively. The current market cap of the company is Rs. 11410.88 crore.
The promoters holding in the company stood at 46.65%, while Institutions and Non-Institutions held 34.73% and 18.63% respectively.
Glenmark Pharmaceuticals’ fully owned subsidiary -- Glenmark Pharmaceuticals Inc., USA (Glenmark) has launched their Fingolimod Capsules, 0.5 mg, the generic version of Gilenya Capsules, 0.5 mg, of Novartis Pharmaceuticals Corporation. According to IQVIA sales data for the 12-month period ending September 2022, the Gilenya Capsules, 0.5 mg market achieved annual sales of approximately $1.8 billion.
Glenmark’s current portfolio consists of 176 products authorized for distribution in the U.S. marketplace and 47 ANDA’s pending approval with the U.S. FDA. 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.
Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.
