Glenmark Pharma soars on receiving ANDA approval for Frovatriptan Succinate Tablets

14 Mar 2016 Evaluate

Glenmark Pharmaceuticals is currently trading at Rs. 832.65, up by 10.75 points or 1.31% from its previous closing of Rs. 821.90 on the BSE.

The scrip opened at Rs. 829.00 and has touched a high and low of Rs. 839.00 and Rs. 819.00 respectively. So far 13195 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. 671.50 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 839.00 and Rs. 796.00 respectively. The current market cap of the company is Rs. 23190.58 crore.

The promoters holding in the company stood at 46.47% while Institutions and Non-Institutions held 42.51% and 11.02% respectively.

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Frovatriptan Succinate Tablets, 2.5 mg, the therapeutic equivalent to the reference listed drug product, Frova Tablets, 2.5 mg, of Endo Pharmaceuticals, Inc.

According to IMS Health sales data for the 12 month period ending January 2016, the Frova Market achieved annual sales of approximately $87.8 million.

Glenmark’s current portfolio consists of 108 products authorized for distribution in the US marketplace and 61 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

1237.10 11.85 (0.97%)
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