Glenmark Pharma shines as its arm gets USFDA’s final approval for Abiraterone Acetate Tablets
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Glenmark Pharmaceuticals is currently trading at Rs. 400.15, up by 7.65 points or 1.95% from its previous closing of Rs. 392.50 on the BSE.
The scrip opened at Rs. 397.50 and has touched a high and low of Rs. 400.15 and Rs. 397.50 respectively. So far 2675 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 690.60 on 19-Jul-2021 and a 52 week low of Rs. 386.30 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 410.00 and Rs. 386.30 respectively. The current market cap of the company is Rs. 11075.10 crore.
The promoters holding in the company stood at 46.65%, while Institutions and Non-Institutions held 35.08% and 18.27% respectively.
Glenmark Pharmaceuticals’ subsidiary -- Glenmark Pharmaceuticals Inc., USA (Glenmark) has received final approval by the United States Food & Drug Administration (USFDA) for Abiraterone Acetate Tablets USP, 500 mg, the generic version of Zytiga Tablets, 500 mg, of Janssen Biotech Inc.
According to IQVIA sales data for the 12 month period ending March 2022, the Zytiga Tablets, 500 mg market achieved annual sales of approximately $260.2 million.
Glenmark’s current portfolio consists of 173 products authorized for distribution in the U.S. marketplace and 49 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.
