Glenmark Pharma gains on tentative nod for Dronedarone tablets

Shares of Glenmark Pharmaceuticals were up 1% at Rs 942 after the company said its US arm Glenmark Pharmaceuticals Inc., has received tentative approval from the USFDA for Dronedarone tablets, 400 mg.

The tablets are the generic version of Multaq tablets 400mg of Sanofi-Aventis U.S., LLC, the company said in a release.

For the year ended November 2015, Multaq achieved annual sales of approximately $425.7 million, according to IMS Health sales data.

The stock opened at Rs 935 and touched a high of Rs 954. At 10:40am, over 368,000 shares were traded on both the stock exchanges.