Glenmark Pharma share price up 2% on rolling out Lacosamide oral solution

Glenmark Pharmaceuticals share price: Pharmaceutical major Glenmark Pharmaceuticals shares rose up to 2.27 per cent to hit an intraday high of Rs 1,551.75 per share on Monday, December 16, 2024.

 

The uptick in Glenmark Pharmaceuticals share price came after the company announced the launch of Lacosamide Oral Solution, 10 mg/mL. Lacosamide is a medication used to treat and prevent seizures, also known as convulsions, in individuals with epilepsy.

 

“We are excited to announce the launch of Lacosamide Oral Solution, 10 mg/mL, strengthening our commitment to bring to market quality and affordable alternatives for patients,” said Marc Kikuchi, president and business head, North America of Glenmark Pharmaceuticals.

 

Glenmark Pharmaceuticals’ Lacosamide Oral Solution, 10 mg/mL is bioequivalent and therapeutically equivalent to the reference listed drug, Vimpat Oral Solution, 10 mg/mL of UCB, Inc., Glenmark Pharma said in a statement.

 

The Vimpat Oral Solution, 10 mg/mL market achieved annual sales of approximately $57 million, according to IQVIATM sales data for the 12-month period ending October 2024.

 

About Glenmark Pharmaceuticals 

 

Glenmark Pharmaceuticals is a global, research-driven pharmaceutical company with expertise in Branded, Generics, and OTC segments. The company specialises in key therapeutic areas, including respiratory, dermatology, and oncology.

 

Glenmark Pharmaceuticals’ US portfolio features 201 approved products and 51 abbreviated new drug approvals (ANDAs) currently awaiting FDA approval. Beyond its internal development, Glenmark actively seeks external partnerships to strengthen and expand its pipeline and portfolio.

 

The company boasts 11 state-of-the-art manufacturing facilities across four continents and has operations in more than 80 countries.

 

The market capitalisation of Glenmark Pharmaceuticals is Rs 43,31.47 crore, according to BSE. 

 

Glenmark Pharmaceuticals shares’ 52-week high is Rs 1,830.05 per share, while its 52-week low is Rs 766.65 apiece.

 

At 11:40 AM, Glenmark Pharmaceuticals shares were trading 1.17 per cent higher ay Rs 1,534.95 apiece. In comparison, BSE Sensex was trading 0.51 per cent lower at 81.710.75 levels.