At 2 pm, the shares of Glenmark Pharmaceuticals are currently trading at Rs 777.75, up by 1.99% from its previous closing of Rs 762.55 on the BSE.
Glenmark Pharmaceuticals’ subsidiary – Glenmark Specialty S.A. and Cosmo Pharmaceuticals N.V. have signed distribution and license agreements for Winlevi (clascoterone cream 1%) in Europe and South Africa. Under the terms of the agreements, Glenmark will receive from Cassiopea, a subsidiary of Cosmo, the exclusive right to commercialize Winlevi in 15 EU countries (Bulgaria, the Czech Republic, Denmark, Finland, France, Hungary, Iceland, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Spain and Sweden) as well as in South Africa and the UK.
Cassiopea shall be responsible for the Centralized Marketing Authorization at the European Medicines Agency (EMA), and Glenmark will be responsible for the registration of the product in South Africa and in the UK. Cosmo will be the exclusive supplier of the product. Cassiopea will receive an upfront payment of USD 5 million, further double-digit regulatory and sales milestones and agreed double-digit royalties on net sales.
Glenmark Pharmaceuticals Ltd is an integrated, research-led, global pharmaceutical company, with a presence across Branded, Generics, and OTC segments; with a focus on therapeutic areas of respiratory, dermatology and oncology. The company has 10 world class manufacturing facilities spread across 4 continents, and operations in over 80 countries.
On Wednesday, the stock opened at Rs 753.80 and touched a high and low of Rs 778 and Rs 753.80 respectively. The BSE group ‘A’ stock of face value of Rs 1 has touched a 52-week high and low of Rs 879.15 and Rs 363.80, respectively.
Last one week high and low of the scrip stood at Rs 879.15 and Rs 753.80 respectively. The current market cap of the company is Rs 21787.61 crore. The promoters holding in the company stood at 46.65%, while Institutions and Non-Institutions held 34.67% and 18.69% respectively.
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