Glenmark Pharmaceuticals surges on launching Nitric Oxide Nasal Spray in partnership with SaNOtize
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Glenmark Pharmaceuticals is currently trading at Rs. 495.00, up by 9.95 points or 2.05% from its previous closing of Rs. 485.05 on the BSE.
The scrip opened at Rs. 486.15 and has touched a high and low of Rs. 495.00 and Rs. 486.15 respectively. So far 4731 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. 442.15 on 25-Mar-2021.
Last one week high and low of the scrip stood at Rs. 504.35 and Rs. 482.20 respectively. The current market cap of the company is Rs. 13686.57 crore.
The promoters holding in the company stood at 46.65%, while Institutions and Non-Institutions held 35.04% and 18.31% respectively.
Glenmark Pharmaceuticals and Canadian pharmaceutical company -- SaNOtize Research & Development Corp have launched Nitric Oxide Nasal Spray under the brand name FabiSpray in India for the treatment of adult patients with COVID-19 who have high risk of progression of the disease. Glenmark earlier received manufacturing and marketing approval from the Drugs Controller General of India (DCGI) for NONS as part of the accelerated approval process.
FabiSpray, Nitric Oxide Nasal Spray, is designed to kill the COVID-19 virus in the upper airways. It has proven anti-microbial properties with a direct virucidal effect on SARS-CoV-2. NONS when sprayed over nasal mucosa acts as a physical and chemical barrier against the virus, preventing it from incubating and spreading to the lungs.
Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.
