Shares of Glenmark Pharmaceuticals rose by 3.5 per cent today after the company said it has received final approval from the US health regulator to sell oral contraceptive -- drospirenone and ethinyl estradiol tablets -- in the US market.
The stock climbed 3.48 per cent to settle at Rs 1,200.45 on BSE. During the day, it gained 5.87 per cent to Rs 1,228.25 -- its 52-week high.
At NSE, shares of the company rose by 3.51 per cent to end at Rs 1,200.10.
The company added Rs 1,139.44 crore to Rs 33,871.44 crore in market valuation.
"Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Drospirenone and Ethinyl Estradiol tablets USP, 3 mg/0.02 mg," the company said in a BSE filing.
The product is generic version Bayer's Yaz tablets.
Glenmark said it plans to commence shipping of drospirenone and ethinyl Estradiol tablets immediately.
