Gland Pharma shines on getting USFDA’s approval for Eribulin Mesylate Injection
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Gland Pharma is currently trading at Rs. 1848.00, up by 92.85 points or 5.29% from its previous closing of Rs. 1755.15 on the BSE.
The scrip opened at Rs. 1785.00 and has touched a high and low of Rs. 1853.00 and Rs. 1771.75 respectively. So far 17898 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2195.75 on 07-Feb-2024 and a 52 week low of Rs. 861.50 on 22-May-2023.
Last one week high and low of the scrip stood at Rs. 1865.00 and Rs. 1746.00 respectively. The current market cap of the company is Rs. 29245.18 crore.
The promoters holding in the company stood at 57.86%, while Institutions and Non-Institutions held 28.21% and 13.93% respectively.
Gland Pharma has received approval from the United States Food and Drug Administration (USFDA) for Eribulin Mesylate Injection, 0.5 mg/mL Single Dose Vial (Product). The Product is expected to be the first generic approval on the market, and the company expects to launch this product in the near term through its marketing partner.
The Product has US sales of around $92 million for twelve months ending in February 2024, according to IQVIA. The company is co-developing several complex injectables, including this Product, with Orbicular Pharmaceutical Technologies.
Gland Pharma develops, manufactures and markets complex injectables. The company sells its products primarily under a business-to-business model in many countries.
