Glenmark Pharmaceuticals moves up on getting USFDA`s final approval for Acetaminophen and Ibuprofen Tablets
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Glenmark Pharmaceuticals is currently trading at Rs. 1088.25, up by 8.20 points or 0.76% from its previous closing of Rs. 1080.05 on the BSE.
The scrip opened at Rs. 1092.60 and has touched a high and low of Rs. 1092.60 and Rs. 1085.60 respectively. So far 578 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1095.95 on 25-Apr-2024 and a 52 week low of Rs. 535.15 on 3-May-2023.
Last one week high and low of the scrip stood at Rs. 1095.95 and Rs. 1018.20 respectively. The current market cap of the company is Rs. 30477.73 crore.
The promoters holding in the company stood at 46.64%, while Institutions and Non-Institutions held 34.78% and 18.58% respectively.
Glenmark Pharmaceuticals (Glenmark) has received final approval by the United States Food & Drug Administration (USFDA) for Acetaminophen and Ibuprofen Tablets, 250 mg/125 mg (OTC), determined by the FDA to be bioequivalent to Advil Dual Action with Acetaminophen Tablets, 250 mg/125 mg (OTC), of Haleon US Holdings, LLC. Glenmark’s Acetaminophen and Ibuprofen Tablets, 250 mg/125 mg (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 March 23, 2024, the Advil Dual Action with Acetaminophen Tablets, 250 mg/125 mg (OTC) market achieved annual sales of approximately $84.1 million.
Glenmark’s current portfolio consists of 195 products authorized for distribution in the U.S. marketplace and 52 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.
