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Glenmark Pharmaceuticals rises on inking pact with Cediprof

Glenmark Pharmaceuticals rises on inking pact with Cediprof

Glenmark Pharmaceuticals is currently trading at Rs. 426.30, up by 0.50 points or 0.12% from its previous closing of Rs. 425.80 on the BSE.

glenmark pharmaceuticals arm receives anda approval for solifenacin succinate tablets
Glenmark Pharmaceuticals

The scrip opened at Rs. 423.70 and has touched a high and low of Rs. 429.15 and Rs. 423.70 respectively. So far 5231 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 487.15 on 11-Apr-2022 and a 52 week low of Rs. 348.90 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 429.25 and Rs. 414.50 respectively. The current market cap of the company is Rs. 12031.65 crore.

The promoters holding in the company stood at 46.65%, while Institutions and Non-Institutions held 33.93% and 19.42% respectively.

Glenmark Pharmaceuticals Inc., USA (Glenmark) and Cediprof Inc. (a part of the Neolpharma Pharmaceutical Group family of companies) have entered into an exclusive supply and distribution agreement for Cediprof’s Food and Drug Administration (FDA) approved Dextroamphetamine Saccharate, Amphetamine Aspartate, Dextroamphetamine Sulfate and Amphetamine Sulfate Tablets (Mixed Salts of a Single Entity Amphetamine Product), 5 mg, 10 mg, 15 mg, 20 mg and 30 mg, the generic version of Adderall Tablets, 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg, of Teva Women’s Health, Inc. Glenmark expects to commence distribution of the product in the U.S. during the second half of 2023. This product has long been on FDA’s shortage list.

Glenmark Pharmaceuticals Inc., USA is a parent organization of Glenmark Pharmaceuticals. According to IQVIA sales data for the 12-month period ending January 2023, the Adderall Tablets, 5 mg, 10 mg, 15 mg, 20 mg, and 30 mg market achieved annual sales of around $389.8 million. Glenmark’s current portfolio consists of 180 products authorized for distribution in the U.S. marketplace and 48 ANDA’s pending approval with the U.S. FDA. 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 research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50countries.