In a press release to BSE on 14th September 2016 (today), Glenmark Pharmaceuticals Inc., USA (Glenmark) announced that it has been granted final approval by the US Food & Drug Administration (USFDA) for Lidocaine Ointment USP, 5 per cent, the generic version of Xylocaine Ointment, 5 per cent of AstraZeneca.
The Xylocaine Ointment, 5 per cent market achieved annual sales of approximately USD 373.0 million, according to a report by IMS Health sales data for the a period of twelve months ending July 2016.
The pharma major has recently been awarded final approval by the USFDA for Triamcinolone Acetonide Cream USP, 0.1 per cent, the generic version of Kenalog Cream, 0.1 per cent of Delcor Asset Corporation (this is no longer being marketed in the United States).
The current portfolio of Glenmark consists of 109 products which have been authorized for distribution in the US marketplace and 62 ANDAs which are pending for approval with the US FDA. Along with these internal filings, Glenmark continues to identify as well as explore external development partnerships to supplement and also accelerate the growth of its existing pipeline and portfolio.
Glenmark share price is currently trading at Rs 883.45, up by 0.98 per cent from its previous closing of Rs 874.85 on the NSE.
The share opened at Rs 884.00 and has touched a high and low of Rs. 891.00 and Rs 876.1 respectively. So far 2,70,927 shares of the Company have been traded on the exchange.
The promoters holding in the company stood at 46.48 per cent, while Institutions and the Non-Institutions held 42.06 per cent and 11.46 per cent respectively.
At CMP of Rs 883.45, the share has a major support at Rs 843.15 and a major resistance at Rs 914.70. Get the important levels of the share at Glenmark share price forecast.
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