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27-Dec2017

Glenmark soars on getting ANDA approval for Norethindrone Acetate, Ethinyl Estradiol Tablets

Glenmark Pharmaceuticals is currently trading at Rs. 585.05, up by 12.25 points or 2.14% from its previous closing of Rs. 572.80 on the BSE.

The scrip opened at Rs. 575.00 and has touched a high and low of Rs. 587.80 and Rs. 572.60 respectively. So far 102575 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 973.10 on 07-Feb-2017 and a 52 week low of Rs. 528.00 on 18-Dec-2017.

Last one week high and low of the scrip stood at Rs. 587.80 and Rs. 540.10 respectively. The current market cap of the company is Rs. 16564.32 crore.

The promoters holding in the company stood at 46.53%, while institutions and non-institutions held 38.56% and 14.92% respectively.

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Norethindrone Acetate and Ethinyl Estradiol Tablets USP and Ferrous Fumarate Tablets, 1 mg/20 mcg, the generic version of Minastrin 24 Fe Tablets, of Allergan Pharmaceuticals International.

According to IQVIA sales data for the 12 month period ending October 2017, the Minastrin 24 Fe Tablets market achieved annual sales of approximately $337.0 million.

Glenmark's current portfolio consists of 130 products authorized for distribution in the US marketplace and 58 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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