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Glenmark Pharmaceuticals edges higher as its arm receives $4 million from Forest Laboratories

Glenmark Pharmaceuticals Ltd. | Pharmaceuticals & Drugs | Healthcare | BSE: 532296 | NSE: GLENMARK

25 Mar 2014 Evaluate

Glenmark Pharmaceuticals is currently trading at Rs. 582.65, up by 1.30 points or 0.22 % from its previous closing of Rs. 581.35 on the BSE.

The scrip opened at Rs. 581.35 and has touched a high and low of Rs. 588.80 and Rs. 581.35 respectively. So far 5492 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 612.00 on 12-Jul-2013 and a 52 week low of Rs. 458.00 on 28-Mar-2013.

Last one week high and low of the scrip stood at Rs. 583.85 and Rs. 547.00 respectively. The current market cap of the company is Rs. 15821.83 crore.

The promoters holding in the company stood at 48.30 % while Institutions and Non-Institutions held 40.64 % and 11.06 % respectively.

Glenmark Pharmaceuticals through its Swiss Subsidiary has received $4 million as research fee payment from Forest Laboratories on collaboration for the development of novel mPGES-1 inhibitors to treat chronic inflammatory conditions, including pain.

Under the terms of the agreement signed in FY 2012-13, Forest made$ 6 million upfront payment and also provided an additional $ 3 million to support the next phase of work. In September 2013, Glenmark received an additional amount of $ 2million as research fee payment from Forest Laboratories. Hence, the total amount received by Glenmark from Forest Laboratories towards its novel mPEGS-1 inhibitors program is $ 15 million.

Glenmark’s current portfolio consists of 90 products authorized for distribution in the US marketplace and 53 ANDA’s pending approval with the USFDA. In addition to these internal Filings, GGI continues to identify and explore external development partnerships to supplement and accelerate the growth of the existing pipeline and portfolio

Glenmark Pharma Share Price

2247.90 -1.65 (-0.07%)

17-Apr-2026 16:59 View Price Chart

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Glenmark Pharmaceuticals edges higher as its arm receives $4 million from Forest Laboratories

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