Glenmark Pharmaceuticals gains on entering into settlement agreement with Forest Laboratories

Glenmark Pharmaceuticals Ltd. | Pharmaceuticals & Drugs | Healthcare | BSE: 532296 | NSE: GLENMARK

21 Dec 2015 Evaluate

Glenmark Pharmaceuticals is currently trading at Rs. 929.95, up by 17.00 points or 1.86% from its previous closing of Rs. 912.95 on the BSE.

The scrip opened at Rs. 915.00 and has touched a high and low of Rs. 934.55 and Rs. 908.50 respectively. So far 21431 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1261.95 on 21-Aug-2015 and a 52 week low of Rs. 703.50 on 07-Jan-2015.

Last one week high and low of the scrip stood at Rs. 921.65 and Rs. 850.20 respectively. The current market cap of the company is Rs. 26240.71 crore.

The promoters holding in the company stood at 46.45% while Institutions and Non-Institutions held 42.81% and 10.75% respectively.

Glenmark Pharmaceuticals and Glenmark Pharmaceuticals Inc., USA, have entered into a Settlement Agreement with Forest Laboratories, LLC, Forest Laboratories Holdings, and Royalty Pharma Collection Trust to settle and dismiss the outstanding patent litigation related to Glenmark’s Abbreviated New Drug Application for Milnacipran Hydrochloride 12.5 milligram, 25 milligram, 50 milligram, and 100 milligram tablets, the generic version of Forest’s Savella.

Under the terms of the Settlement Agreement, Glenmark will have the option to market and distribute its Milnacipran Hydrochloride tablets or an authorized generic version of Savella tablets. According to IMS Health sales data for the 12 month period ending October 2015, Savella achieved annual sales of approximately $134.7 million.

Glenmark’s current portfolio consists of 103 products authorized for distribution in the US marketplace and 63 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 Pharma Share Price

2364.35 -6.70 (-0.28%)

08-May-2026 16:59 View Price Chart

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