Glenmark Pharmaceuticals Limited | Stock & Company Updates

Daily Market Updates
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Glenmark rises after its arm inks distribution and license agreements with Cosmo for Winlevi

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.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.

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Glenmark Pharmaceuticals has delivered great returns of 81% over the past year and returns of 58% over the past 3 years. It has received ANDA approval for Fluphenazine Hydrochloride Tablets!

Glenmark Pharmaceuticals Limited is a global pharmaceutical company that prioritizes research and operates in the Branded, Generics, and OTC segments. Their focus is on therapeutic areas including respiratory, dermatology, and oncology. The company boasts a network of 10 world-class manufacturing facilities spanning four continents and conducts operations in over 80 countries. Glenmark has received approval from the Science Based Target initiative (SBTi) in 2023 for its Greenhouse Gas (GHG) emission reduction targets, making it the second Indian pharmaceutical company to achieve this milestone.

Glenmark Pharmaceuticals Ltd has received the final approval from the United States Food & Drug Administration (U.S. FDA) for Fluphenazine Hydrochloride Tablets USP in 1 mg, 2.5 mg, 5 mg, and 10 mg strengths. These tablets are the generic versions of Prolixin Tablets in corresponding strengths, originally manufactured by Apothecon Inc. Glenmark’s Fluphenazine Hydrochloride Tablets USP will be distributed in the U.S. by Glenmark Pharmaceuticals Inc., USA.

According to IQVIA sales data for the 12-month period ending in September 2023, the Prolixin Tablets in 1 mg, 2.5 mg, 5 mg, and 10 mg strengths achieved annual sales of approximately USD 18.1 million.

Glenmark’s current portfolio comprises 189 products authorized for distribution in the U.S. market, with an additional 50 ANDAs awaiting approval from the U.S. FDA. Besides these internal filings, Glenmark is actively seeking external development partnerships to supplement and expedite the expansion of its existing pipeline and product range.

The company has delivered great returns of 81% over the past year and returns of 58% over the past 3 years. Moreover, the company has a ROCE of 14.2% and a ROE of 5.44%.

On Tuesday, shares of the company surged over 2% and made an intraday high of Rs 771.50.

Investors should keep a close eye on this trending stock.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.