Glenmark Pharmaceuticals surges as its arm launches Olopatadine Hydrochloride Ophthalmic Solution USP
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Glenmark Pharmaceuticals is currently trading at Rs. 1595.00, up by 30.30 points or 1.94% from its previous closing of Rs. 1564.70 on the BSE.
The scrip opened at Rs. 1573.45 and has touched a high and low of Rs. 1602.15 and Rs. 1567.15 respectively. So far 8097 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1,610.00 on 19-Aug-2024 and a 52 week low of Rs. 702.05 on 12-Nov-2023.
Last one week high and low of the scrip stood at Rs. 1610.00 and Rs. 1427.35 respectively. The current market cap of the company is Rs. 44153.98 crore.
The promoters holding in the company stood at 46.65%, while Institutions and Non-Institutions held 34.94% and 18.41% respectively.
Glenmark Pharmaceuticals’ subsidiary -- Glenmark Therapeutics Inc., USA has launched Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1% (OTC); compare to the active ingredient in Pataday Twice Daily Relief.
According to Nielsen syndicated data for the latest 52 weeks’ period ending July 13, 2024, the Pataday Twice Daily Relief (OTC) market achieved annual sales of approximately $26.4 million.
In July, the company had received final approval by the United States Food & Drug Administration (U.S. FDA) for Topiramate Capsules USP, 15 mg and 25 mg.
Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.
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