Glenmark Pharmaceuticals rose 1.40% to Rs 290.60 after the company said it received abbreviated new drug application approval for Adapalene and Benzoyl Peroxide Gel, 0.1%/2.5%.Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for adapalene and benzoyl peroxide gel, 0.10/012.5%, the generic version of Epiduo Gel, 0.1%/2.5%, of Galderma Laboratories L.P.
Adapalene and benzoyl peroxide are topical agents used for the treatment of acne vulgaris (pimples).
According to IQVIA sales data for the 12 month period ending September 2019, the Epiduo Gel, 0.10/012.5% market achieved annual sales of approximately $33.7 million.
Glenmark's current portfolio consists of 163 products authorized for distribution in the U.S. marketplace and 45 ANDA's pending approval with the USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio. The announcement was made during trading hours today, 11 November 2019.
Shares of Glenmark Pharmaceuticals fell 9.64% in three trading sessions to settle at Rs 286.60 on Friday, 8 November 2019, from its close of Rs 317.20 on 5 November 2019.
Glenmark Pharmaceuticals' consolidated net profit slumped 53.1% to Rs 317.20 crore on 7.2% increase in net sales to Rs 2,283.60 crore in Q2 June 2019 over Q2 June 2018.
Glenmark Pharmaceuticals is a research‐driven, global, integrated pharmaceutical organization.
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