Glenmark Pharma gains on USFDA nod for oral contraceptive drug

The USFDA nod is for AB-rated generic version of Seasonale by Teva Women's Health

Shares of Glenmark Pharmaceuticals were up nearly 2% at Rs 893 after the company said its US-based arm received approval from the US Food & Drug Administration for oral contraceptive tablets.

Glenmark Pharmaceuticals Inc., USA has been granted final approval for the AB-rated generic version of Seasonale by Teva Women's Health for extended-cycle oral contraceptive, Levonorgestrel/Ethinyl Estradiol Tablets USP, 0.15mg/0.03mg, the company said in a release.

Seasonale tables is for the prevention of pregnancy in women who chose to use oral contraceptives as a method of contraception, the release added.

The stock opened at Rs 889 and touched a high of Rs 895. At 12:35PM, over 550,000 shares were trade on both the stock exchanges.