Tag: glenmark

Shares of Glenmark Pharma surged over 5 percent to a high of Rs 421 in an otherwise sluggish market, after the drug maker reported steady earnings for the quarter that ended December 2022. Glenmark Pharmaceuticals Ltd on Friday reported a 21.3 percent rise in consolidated profit after tax at ₹290.8 crores for the third quarter ended December 31, 2022. as against Rs 240 crore in the corresponding quarter a year ago. In the December quarter, total revenue stood at Rs 3,463.8 crore during the period under review, up 9.2 percent against Rs 3,173.4 crore in the corresponding period of the preceding fiscal. The company had a one-time gain of Rs 34 crore in Q3, which is a net gain from the sale of its cardiac brand—Razel's India—and Nepal business, against the remediation cost of the company's Monroe manufacturing site in the U.S. Read more

Shares of Glenmark raised 5 percent to Rs 466, as it announced that it has received final approval from the United States Food & Drug Administration (USFDA) for its lacosamide tablets USP — 50, 100, 150, and 200 mg.“The USFDA approval for generic Lacosamide tablets USP reiterates our ongoing commitment to making treatment options more accessible for patients. We look forward to quickly launching this product in the US market," said Robert Crockart, a chief commercial officer of Glenmark Pharmaceuticals. Glenmark Pharmaceuticals is a global innovation-driven pharmaceutical company with a presence across Specialty, Generics, and OTC businesses. According to IQVIATM sales data for the 12 month period ending January 2022, the Vimpat® Tablets, 50 mg, 100 mg, 150 mg, and 200 mg achieved annual sales of approximately $1.7 billion. Read more

Shares of Mumbai-based firm Glenmark Pharmaceuticals gained 40 per cent to Rs 572.7 in the intra-day trade on the BSE on Monday after the company on Saturday said it has launched antiviral drug Favipiravir, under the brand name FabiFlu, for the treatment of patients with mild to moderate Covid-19. Glenmark Pharmaceuticals has become the first Indian company to commercially launch an antiviral drug. The stock has surged over 172 per cent in the last three months, The price range of Favipiravir is at Rs 103 per tablet. The drug will be available as a 200 mg tablet at an MRP of Rs 3,500 for a strip of 34 tablets. It is a prescription-based medication, with the recommended dose being 1,800 mg twice daily on day 1, followed by 800 mg twice daily up to day 14. It offers rapid reduction in viral load within four days and provides faster symptomatic and radiological improvement. Favipiravir has shown clinical improvement of up to 88 per cent in mild to moderate Covid-19 cases. Read more

Glenmark Pharmaceuticals shares rallied 9 percent to Rs 359 on the BSE today 30th April 2020) after the company announced that it has received approval from the regulator DCGI (Drug Controller General of India) to conduct clinical trials on Favipiravir Antiviral tablets for COVID-19 patients. The product is a generic version of Avigan of Fujifilm Toyama Chemical, Japan. Glenmark is the first pharmaceutical company in India to be given approval by the regulator to start the trial on COVID-19 patients in India, the company said in a press release. At 09:16 am, the stock was trading 6 percent higher at Rs 350 on the BSE, against a 2 percent rise in the S&P BSE Sensex. Around 740,000 shares have changed hands on the counter the BSE and NSE so far.