Glenmark Pharmaceuticals gains on getting USFDA`s final approval for Saxagliptin Tablets
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Glenmark Pharmaceuticals is currently trading at Rs. 794.40, up by 6.20 points or 0.79% from its previous closing of Rs. 788.20 on the BSE.
The scrip opened at Rs. 799.55 and has touched a high and low of Rs. 799.55 and Rs. 790.00 respectively. So far 3085 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 832.90 on 27-Jul-2023 and a 52 week low of Rs. 361.70 on 29-Aug-2022.
Last one week high and low of the scrip stood at Rs. 832.90 and Rs. 784.00 respectively. The current market cap of the company is Rs. 22240.49 crore.
The promoters holding in the company stood at 46.65%, while Institutions and Non-Institutions held 34.67% and 18.69% respectively.
Glenmark Pharmaceuticals has received final approval from the United States Food & Drug Administration (USFDA) for Saxagliptin Tablets, 2.5 mg and 5 mg, the generic version of Onglyza Tablets, 2.5 mg and 5 mg, of AstraZeneca AB. Glenmark’s Saxagliptin Tablets, 2.5 mg and 5 mg, will be distributed in the U.S. by Glenmark Pharmaceuticals Inc., USA.
According to IQVIATM sales data for the 12?month period ending June 2023, the Onglyza Tablets, 2.5 mg and 5 mg market achieved annual sales of around $100.7 million.
Glenmark’s current portfolio consists of 184 products authorized for distribution in the U.S. marketplace and 49 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.
Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.
