Glenmark Pharma rises nearly 2% on USFDA approval

Glenmark’s current portfolio consists of 160 products authorized for distribution in the US marketplace and 55 ANDA’s pending approval with the US FDA.

Shares of Glenmark Pharma rose nearly 2 percent in the early trade on August 30 after the company received an approval from the USFDA.

Glenmark Pharmaceuticals, USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Pimecrolimus Cream, 1%, a generic version of Elidel 1 Cream, 1%, of Bausch Health US, LLC, company said in a press release.

According to IQVIATM sales data for the 12 month period ending July 2019, the Elidel Cream, 1% market achieved annual sales of approximately $198.8 million.

Glenmark’s current portfolio consists of 160 products authorized for distribution in the US marketplace and 55 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, the company added.

Glenmark Pharma was quoting at Rs 384.45, up to Rs 0.95, or 0.25 percent on the BSE.

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