Glenmark Pharma gains after USFDA grants for Calcipotriene Cream

Shares of Glenmark Pharmaceuticals have risen 1.35% to Rs 869 on the Bombay Stock Exchange (BSE) after Glenmark Pharmaceuticals Inc., USA has been granted final approval by the USFDA for Calcipotriene Cream, 0.005%,

Glenmark Pharmaceuticals said Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Calcipotriene Cream, 0.005%, the therapeutic equivalent of Dovonex Cream, 0.005% of Leo Pharma A/S. Glenmark plans to commence shipping of Calcipotriene Cream, 0.005% immediately.

According to IMS Health sales data, for the 12 month ending April 2015, the Dovonex market achieved annual sales of approximately $91.90 million in the US.
 

The stock opened at Rs 865 on the BSE and touched a high of Rs 873. At 10:42AM, a combined total of 160,000 shares changed hands on the counter of NSE and BSE.