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Glenmark gains on receiving final approval by USFDA for Clobetasol Propionate Ointment
Mar-21-2017

Glenmark Pharmaceuticals is currently trading at Rs. 885.70, up by 5.35 points or 0.61% from its previous closing of Rs. 880.35 on the BSE.

The scrip opened at Rs. 882.25 and has touched a high and low of Rs. 889.05 and Rs. 876.00 respectively. So far 12755 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 993.00 on 01-Nov-2016 and a 52 week low of Rs. 729.30 on 24-Jun-2016.

Last one week high and low of the scrip stood at Rs. 929.90 and Rs. 872.40 respectively. The current market cap of the company is Rs. 24995.34 crore.

The promoters holding in the company stood at 46.49%, while institutions and non-institutions held 41.24% and 12.27% respectively.

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Clobetasol Propionate Ointment USP, 0.05%, the generic version of Temovate Ointment, 0.05% of Fougera Pharmaceuticals Inc.

According to IMS Health sales data for the 12 month period ending January 2017, the Temovate Ointment, 0.05% market achieved annual sales of approximately $175.3 million.

Glenmark’s current portfolio consists of 113 products authorized for distribution in the US marketplace and approximately 64 ANDA’s pending approval with the USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.

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