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Glenmark Pharmaceuticals slips on receiving seven observations for Baddi unit

28 Nov 2017 Evaluate

Glenmark Pharmaceuticals is currently trading at Rs. 576.50, down by 14.70 points or 2.49% from its previous closing of Rs. 591.20 on the BSE.

The scrip opened at Rs. 580.00 and has touched a high and low of Rs. 584.00 and Rs. 573.95 respectively. So far 86,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 973.10 on 07-Feb-2017 and a 52 week low of Rs. 565.00 on 16-Nov-2017.

Last one week high and low of the scrip stood at Rs. 599.35 and Rs. 573.95 respectively. The current market cap of the company is Rs. 16,261.00 crore.

The promoters holding in the company stood at 46.53%, while Institutions and Non-Institutions held 38.56% and 14.92% respectively.

The United States Food & Drug Administration (USFDA) has issued seven observations to Glenmark Pharmaceuticals through form 483 for its Baddi unit. The USFDA had conducted audit at Baddi unit from November 6, 2017 to November 11, 2017.

The company is in the midst of providing a comprehensive response to the observations and would be replying to the USFDA shortly on the observations. Currently, the Baddi unit contributes approximately 10 percent of the revenue of US sales.

Glenmark’s current portfolio consists of 129 products authorized for distribution in the US marketplace and 58 ANDA’s pending approval with the USFDA.


Glenmark Pharma Share Price

2298.05 -39.15 (-1.68%)
24-Apr-2026 16:59 View Price Chart
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