Glenmark Pharma trades in green on getting USFDA`s nod for Chlorpromazine Hydrochloride Tablets
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Glenmark Pharmaceuticals is currently trading at Rs. 467.95, up by 2.30 points or 0.49% from its previous closing of Rs. 465.65 on the BSE.
The scrip opened at Rs. 466.75 and has touched a high and low of Rs. 470.95 and Rs. 466.20 respectively. So far 16510 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 572.70 on 22-Jun-2020 and a 52 week low of Rs. 187.70 on 25-Mar-2020.
Last one week high and low of the scrip stood at Rs. 470.95 and Rs. 442.85 respectively. The current market cap of the company is Rs. 13139.16 crore.
The promoters holding in the company stood at 46.63%, while Institutions and Non-Institutions held 35.91% and 17.46% respectively.
Glenmark Pharmaceuticals has received final approval by the United States Food & Drug Administration (USFDA) for Chlorpromazine Hydrochloride Tablets USP, 10 mg, 25 mg, 50 mg, 100 mg, and 200 mg, the generic version of Thorazine Tablets, 10 mg, 25 mg, 50 mg, 100 mg, and 200 mg, of GlaxoSmithKline.
Glenmark has been granted a competitive generic therapy (CGT) designation for Chlorpromazine Hydrochloride Tablets USP, 10 mg, 25 mg, 50 mg, 100 mg, and 200 mg, therefore, with this approval, Glenmark is the first approved applicant for such competitive generic therapy and is eligible for 180 days of CGT exclusivity upon commercial marketing. According to IQVIATM sales data for the 12 month period ending January 2021, the Thorazine Tablets, 10 mg, 25 mg, 50 mg, 100 mg, and 200 mg market achieved annual sales of approximately $108.6 million.
The company’s current portfolio consists of 171 products authorized for distribution in the U.S. marketplace and 41 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.
