Glenmark Pharma gets ANDA approval for Clindamycin and Benzoyl Peroxide Gel; stock gains 2%

Glenmark’s current portfolio consists of 151 products authorized for distribution in the US marketplace and 53 ANDAs pending approval with the USFDA.

Mar 15, 2019 04:03 IST India Infoline News Service

Glenmark Pharma
Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Clindamycin and Benzoyl Peroxide Gel, 1%|5%, a generic version of BenzaClin1 Gel, 1%|5%, of Valeant Bermuda. Reacting to this, shares of Glenmark Pharma gained 2% in Friday's morning trade.
 
According to IQVIATM sales data for the 12-month period ending January 2019, the BenzaClin Gel, 1%|5% market2 achieved annual sales of approximately $99.4mn.
 
Glenmark’s current portfolio consists of 151 products authorized for distribution in the US marketplace and 53 ANDAs 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 Ltd's share price is currently at Rs645.10, up by Rs14.7 or 2.33%, from its previous close of Rs630.40 on the BSE.

The scrip opened at Rs635 and has touched a high and low of Rs645.15 and Rs634.80, respectively. So far, 1,90,738 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs17,789.48cr.

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