Glenmark Pharma hits 6-year low after USFDA issues CRL on Ryaltris

The drug maker on Saturday said the USFDA has issued a Complete Response Letter (CRL) regarding the new drug application for Ryaltris (olopatadine hydrochloride [665 mcg] and mometasone furoate.

Shares of Glenmark Pharmaceuticals hit a 52-week low of Rs 467, down 7 per cent on the BSE in the early morning trade on Monday after the US health regulator USFDA cited deficiencies in the Drug Master File pertaining to one of the active pharmaceutical ingredients (API) and in manufacturing facilities. The stock was trading at its lowest level since April 4, 2013.

The drug maker on Saturday said the US Food and Drug Administration (USFDA) has issued a Complete Response Letter (CRL) regarding the new drug application for Ryaltris (olopatadine hydrochloride [665 mcg] and mometasone furoate [25 mcg]), Nasal