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04-Jul2017

Glenmark Pharmaceuticals advances on receiving final approval by MHRA for Maloff Protect

Glenmark Pharmaceuticals is currently trading at Rs. 642.55, up by 3.20 points or 0.50% from its previous closing of Rs. 639.35 on the BSE.

The scrip opened at Rs. 644.90 and has touched a high and low of Rs. 646.05 and Rs. 641.10 respectively. So far 9,657 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. 600.00 on 29-May-2017.

Last one week high and low of the scrip stood at Rs. 646.05 and Rs. 625.00 respectively. The current market cap of the company is Rs. 18,130.00 crore.

The promoters holding in the company stood at 46.50%, while Institutions and Non-Institutions held 40.80% and 12.70% respectively.

Glenmark Pharmaceuticals Europe (Glenmark) has been granted final approval by the Medicines and Healthcare products Regulatory Agency (MHRA) for Maloff Protect (250mg/100mg atovaquone/proguanil film-coated tablets), anti-malarial medication, as a pharmacy license in the United Kingdom. Maloff Protect (250mg/100mg atovaquone/proguanil film-coated tablets) is the first OTC approval granted by the MHRA.

Maloff Protect will be used in the prevention of malaria in adults travelling to areas where malaria is prevalent. Maloff Protect contains atovaquone and proguanil hydrochloride, and has been available only as a prescription medicine in the UK. Under this approval, patients will be able to purchase Maloff Protect without a prescription.

Glenmark's current portfolio consists of +100 SKUs authorized for distribution in the UK, both in-licensed as well as Glenmark's own products. In addition to this approval Glenmark UK continues to identify and explore both internal as well as external development partnerships to supplement and accelerate the growth of its existing opportunities and future portfolio.



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