Glenmark climbs as its US arm gets USFDA’s approval for Olopatadine Hydrochloride Ophthalmic Solution
Glenmark Pharmaceuticals is currently trading at Rs. 1501.30, up by 23.15 points or 1.57% from its previous closing of Rs. 1478.15 on the BSE.
The scrip opened at Rs. 1497.10 and has touched a high and low of Rs. 1509.80 and Rs. 1487.95 respectively. So far 3019 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1830.05 on 15-Oct-2024 and a 52 week low of Rs. 936.05 on 26-Mar-2024.
Last one week high and low of the scrip stood at Rs. 1509.80 and Rs. 1399.55 respectively. The current market cap of the company is Rs. 42494.71 crore.
The promoters holding in the company stood at 46.65%, while Institutions and Non-Institutions held 37.40% and 15.96% respectively.
Glenmark Pharmaceuticals’ US-based subsidiary -- Glenmark Pharmaceuticals Inc, USA has received final approval by the United States Food & Drug Administration (USFDA) for Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% (OTC), determined by the FDA to be bioequivalent to Pataday Once Daily Relief Ophthalmic Solution, 0.2% (OTC), of Alcon Laboratories, Inc. Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% (OTC), will be distributed in the U.S. by Glenmark Therapeutics Inc., USA.
According to Nielsen syndicated data for the latest 52 weeks’ period ending February 22, 2025, the Pataday Once Daily Relief Ophthalmic Solution, 0.2% (OTC) market3 achieved annual sales of around $50.7 million.
Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.
