Glenmark Pharmaceuticals is currently trading at Rs. 841.35, up by 9.85 points or 1.18% from its previous closing of Rs. 831.50 on the BSE.
The scrip opened at Rs. 838.00 and has touched a high and low of Rs. 841.40 and Rs. 837.15 respectively. So far 3,422 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. 842.10 and Rs. 759.30 respectively. The current market cap of the company is Rs. 23,760.54 crore.
The promoters holding in the company stood at 46.48% while Institutions and Non-Institutions held 41.92% and 11.60% respectively.
Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted tentative approval by the United States Food & Drug Administration (USFDA) for Norethindrone Acetate and Ethinyl Estradiol Tablets USP, 1 mg/0.01 mg, Ethinyl Estradiol Tablets USP, 0.01 mg and Ferrous Fumarate Tablets, 75 mg, the generic version of Lo Loestrin Fe (norethindrone acetate and ethinyl estradiol, ethinyl estradiol and ferrous fumarate) Tablets of Allergan Pharms Intl. According to IMS Health sales data for the 12 month period ending February 2016, the Lo Loestrin Fe market achieved annual sales of approximately $432.2 million.
Glenmark will market this product upon receiving final approval of its Norethindrone Acetate and Ethinyl Estradiol Tablets USP, 1 mg/0.01 mg, Ethinyl Estradiol Tablets USP, 0.01 mg and Ferrous Fumarate Tablets, 75 mg ANDA. The patent listed in the Orange Book for Lo Loestrin Fe (norethindrone acetate and ethinyl estradiol, ethinyl estradiol and ferrous fumarate) Tablets is scheduled to expire on February 2, 2029.
Glenmark’s current portfolio consists of 112 products authorized for distribution in the US marketplace and 57 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.
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