Glenmark Pharmaceuticals witnessed a marginal gain in early trade on April 29 following the announcement of receiving final approval from the US FDA for acetaminophen and ibuprofen tablets.
As of 9:57 am, Glenmark Pharma’s stock was quoting at Rs 1,084.30, up by Rs 4.25 or 0.39 percent, on the BSE.
The company stated in a release, “The company has received the final approval by the United States Food & Drug Administration (USFDA) for acetaminophen and ibuprofen tablets, 250 mg/125 mg (OTC), determined by the FDA to be bioequivalent to advil dual action with acetaminophen tablets, 250 mg/125 mg (OTC), of Haleon US Holdings, LLC.” These tablets will be distributed in the US by Glenmark Therapeutics Inc, USA.
Glenmark currently boasts a portfolio of 195 products authorized for distribution in the US marketplace, with 52 ANDA’s pending approval with the USFDA.
Additionally, the company mentioned its ongoing efforts in identifying and exploring external development partnerships to complement and expedite the growth of its existing pipeline and portfolio.
The share touched a 52-week high of Rs 1,095.95 and a 52-week low of Rs 516.65 on April 25, 2024, and April 26, 2023, respectively. It is currently trading 1.4 percent below its 52-week high and 109.16 percent above its 52-week low. Over the past year, the share price has gained 107 percent.
