Glenmark Pharmaceutical gains on launching biosimilar of Adalimumab in India

05 Jan 2018 Evaluate

Glenmark Pharmaceuticals is currently trading at Rs. 593.20, up by 3.75 points or 0.64% from its previous closing of Rs. 589.45 on the BSE.

The scrip opened at Rs. 592.00 and has touched a high and low of Rs. 596.05 and Rs. 589.00 respectively. So far 29837 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. 528.00 on 18-Dec-2017.

Last one week high and low of the scrip stood at Rs. 603.20 and Rs. 583.50 respectively. The current market cap of the company is Rs. 16794.32 crore.

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

Glenmark Pharmaceuticals has launched the biosimilar of Adalimumab under a licensing agreement with Cadila Healthcare, the Zydus group for the treatment of Plaque Psoriasis and Rheumatoid Arthritis. Developed by the researchers at the Zydus Research Centre, the biosimilar of Adalimumab was first launched by Zydus in 2014 and is manufactured at Zydus Biologics, the dedicated facility for product development and manufacturing of biologics and monoclonal antibodies.

The biosimilar will be marketed by Glenmark under the brand name ADALY. Globally, Adalimumab is the number one selling pharmaceutical product. ADALY (Adalimumab) is a TNF inhibiting, anti-inflammatory biologic that binds to tumor necrosis factor (TNFalpha) and reduces inflammatory response.

Glenmark Pharmaceuticals is a global pharmaceutical company. The company is engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs). Its segments are India, United States, Latin America, Europe and Rest of the World (ROW).


Glenmark Pharma Share Price

954.95 -8.05 (-0.84%)
28-Mar-2024 16:01 View Price Chart
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