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Glenmark Pharmaceuticals shines as its arm enters into licensing agreement with Menarini Group

23 Dec 2020 Evaluate

Glenmark Pharmaceuticals is currently trading at Rs. 493.90, up by 10.05 points or 2.08% from its previous closing of Rs. 483.85 on the BSE.

The scrip opened at Rs. 488.00 and has touched a high and low of Rs. 496.00 and Rs. 487.60 respectively. So far 25179 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 572.70 on 22-Jun-2020 and a 52 week low of Rs. 168.00 on 13-Mar-2020.

Last one week high and low of the scrip stood at Rs. 535.15 and Rs. 464.45 respectively. The current market cap of the company is Rs. 13960.27 crore.

The promoters holding in the company stood at 46.63%, while Institutions and Non-Institutions held 30.25% and 23.13% respectively.

Glenmark Pharmaceuticals’ Swiss subsidiary -- Glenmark Specialty S.A., has entered into an exclusive licensing agreement with Menarini Group (Menarini) for commercializing its innovative nasal spray Ryaltris across 33 countries in Europe, including the Balkan region. Ryaltris developed by Glenmark, is a novel fixed-dose combination nasal spray of an anti-histamine and a steroid, indicated for treatment of symptoms associated with seasonal allergic rhinitis (SAR) in patients over 12 years of age.

Under the terms of the agreement, Glenmark will be responsible for the continued development and regulatory approval of Ryaltris in these markets. Menarini will be responsible for the scientific information and the commercialization of Ryaltris in those markets, following regulatory approval. Glenmark will receive an upfront payment as well as launch & sales based milestone payments from Menarini for Ryaltris sales.

Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.

Glenmark Pharma Share Price

2290.00 -47.20 (-2.02%)
24-Apr-2026 15:40 View Price Chart
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