Glenmark Pharma inches up as its arm receives USFDA’s approval for Pimecrolimus Cream

30 Aug 2019

Glenmark Pharmaceuticals is currently trading at Rs. 384.30, up by 0.80 points or 0.21% from its previous closing of Rs. 383.50 on the BSE.

The scrip opened at Rs. 388.95 and has touched a high and low of Rs. 390.75 and Rs. 380.00 respectively. So far 15866 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 711.55 on 10-Sep-2018 and a 52 week low of Rs. 353.35 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 390.75 and Rs. 360.00 respectively. The current market cap of the company is Rs. 10821.15 crore.

The promoters holding in the company stood at 46.58%, while Institutions and Non-Institutions held 38.72% and 14.71% respectively.

Glenmark Pharmaceuticals’ subsidiary -- Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Pimecrolimus Cream, 1%, a generic version of Elidel Cream, 1%, of Bausch Health US, LLC.

According to IQVIA sales data for the 12 month period ending July 2019, the Elidel Cream, 1% market achieved annual sales of approximately $198.8 million.

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).

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