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11-Feb2019

Glenmark gains with arm getting approval from USFDA for Sevelamer Hydrochloride Tablets

Glenmark Pharmaceuticals is currently trading at Rs. 619.60, up by 5.15 points or 0.84% from its previous closing of Rs. 614.45 on the BSE.

The scrip opened at Rs. 614.55 and has touched a high and low of Rs. 623.50 and Rs. 614.00 respectively. So far 4450 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. 483.60 on 30-May-2018.

Last one week high and low of the scrip stood at Rs. 664.45 and Rs. 612.00 respectively. The current market cap of the company is Rs. 17337.82 crore.

The promoters holding in the company stood at 46.54%, while Institutions and Non-Institutions held 39.20% and 14.26% respectively.

Glenmark Pharmaceuticals – subsidiary -- Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Sevelamer Hydrochloride Tablets, 400 mg and 800 mg, a generic version of Renagel Tablets, 400 mg and 800 mg, of Genzyme Corporation.

According to IQVIA sales data for the 12 month period ending December 2018, the Renagel Tablets, 400 mg and 800 mg market achieved annual sales of approximately $102.1 million.

The company's current portfolio consists of 149 products authorized for distribution in the US market place and 53 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.

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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