Here's why Gland Pharma share was up 3% on December 3; details here

Gland Pharma share price: Shares of pharmaceutical company Gland Pharma rose up to 2.59 per cent to hit an intraday high of Rs 1,825.50 per share on Tuesday, December 3, 2024.

 

The uptick in Gland Pharma share came after the company said that it has received approval from the United States Food and Drug Administration (US FDA) for Latanoprost Ophthalmic Solution, 0.005 per cent (2.5 mL Fill).  

 

The Product is used to treat high eye pressure/intraocular pressure (IOP) in patients with openangle glaucoma or ocular hypertension. 

 

The company expects to launch this Product through its marketing partners in FY25, Gland Pharma revealed. 

 

“The Product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Xalatan, latanoprost ophthalmic solution 0.005 per cent (50 μg/mL) held by UPJOHN US 2 LLC,” Gland Pharma said.

 

According to IQVIA, the product had US sales of about $111.6 million for the twelve months ending December 2023.

 

About Gland Pharma   Set up in 1978 in Hyderabad, Gland Pharma has evolved from a contract manufacturer of small-volume liquid parenteral products into a leading global player in the injectable pharmaceutical sector. 

 

With a robust presence in over 60 countries, including the United States, Europe, Canada, Australia, and India, the company operates on a business-to-business (B2B) model. 

 

Gland Pharma is renowned for its expertise in developing, manufacturing, and marketing sterile injectables, offering a diverse portfolio that includes vials, ampoules, pre-filled syringes, lyophilised vials, dry powders, infusions, oncology drugs, and ophthalmic solutions. The company also holds the distinction of pioneering Heparin technology in India.

 

The market capitalisation of Gland Pharma is Rs 29,801.94 crore, according to BSE. The company falls under the BSE 200 category.

 

The 52-week high of Gland Pharma is Rs 2,220.95 per share, while its 52-week low is Rs 1,590 per share. 

 

At 12:30 PM, Gland Pharma shares were trading 1.66 per cent higher at Rs 1,808.90 per share. In comparison, BSE Sensex was trading 0.62 per cent or 499.40 points higher at 80,747.48 levels.