Glenmark gains as its arm gets tentative nod for Calcipotriene and Betamethasone Dipropionate Foam
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Glenmark Pharmaceuticals is currently trading at Rs. 414.90, up by 4.15 points or 1.01% from its previous closing of Rs. 410.75 on the BSE.
The scrip opened at Rs. 412.90 and has touched a high and low of Rs. 418.75 and Rs. 404.30 respectively. So far 58848 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. 405.40 on 06-May-2022.
Last one week high and low of the scrip stood at Rs. 440.00 and Rs. 405.40 respectively. The current market cap of the company is Rs. 11786.16 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 tentative approval from the United States Food & Drug Administration (U.S. FDA) for Calcipotriene and Betamethasone Dipropionate Foam, 0.005%-0.064%, the generic version of Enstilar Foam, 0.005%-0.064%, of Leo Pharma AS.
According to IQVIA sales data for the 12 month period ending March 2022, the Enstilar Foam, 0.005%-0.064% market achieved annual sales of around $115.2 million.
Glenmark’s current portfolio consists of 174 products authorized for distribution in the U.S. marketplace and 48 ANDA’s pending approval with the U.S. FDA.
Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.
