 "Glenmark Pharma share rises 2% on securing USFDA nod; key details here")
Glenmark Pharma share price: Pharmaceutical company Glenmark Pharmaceuticals shares rose 2.14 per cent to hit an intraday high of ₹1509.80 per share on Friday, March 21, 2025.
The rise in Glenmark Pharma's stock came after it said Glenmark Pharmaceuticals Inc., USA, has received final approval from the US Food and Drug Administration (USFDA) for its Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2 per cent, a product in the over-the-counter (OTC) category.
The product has been determined to be bioequivalent to Alcon Laboratories' Pataday Once Daily Relief Ophthalmic Solution, 0.2 per cent (OTC).
The approval is major because Pataday had approximately $50.7 million in annual sales as of February 2025, according to Nielsen data.
Marc Kikuchi, president and business head of North America said, “We are pleased to continue to expand our OTC ophthalmic portfolio. The addition of Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2 per cent highlights our commitment to meeting market needs and providing quality over-the-counter solutions for our customers.” ALSO READ | Stock Market LIVE: Sensex 170 pts higher at 76,500; Nifty at 23,250; Pharma, Health gain
Additionally, Glenmark will distribute this product in the US through Glenmark Therapeutics Inc., USA, positioning itself to tap into a sizable market, the company said.
About Glenmark Pharma
Glenmark Pharmaceuticals is a research-driven global pharmaceutical company with a strong presence in the Branded, Generics, and OTC (over-the-counter) segments.
The company focuses on key therapeutic areas, including cardio-metabolic, respiratory, dermatology, and oncology.
Glenmark operates 11 state-of-the-art manufacturing facilities across four continents and conducts business in over 80 countries worldwide.
With its broad global footprint and extensive research expertise, Glenmark is well-placed to make major contributions in the pharmaceutical industry. ALSO READ | Railtel shares jump 6% on winning Rs 16.8-cr order from Defence Ministry
Last checked, the market capitalisation of Glenmark Pharma is Rs 42,364.91, according to BSE. The company falls under the BSE 500 category.
The 52-week high of Glenmark Pharma is ₹1,830.05, while its 52-week low is ₹936.05 per share.
At 10:20 AM, Glenamark Pharma shares were trading 1.56 per cent higher at ₹1,501.20. In comparison, BSE Sensex was trading 0.24 per cent higher at 76,531.41 levels.