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Shares of Glenmark Pharma gain on getting the final nod for Apremilast Tablets

Glenmark Pharmaceuticals has received final FDA approval for Apremilast Tablets, a generic version of Otezla Tablets, resulting in annual sales of USD 3.7 billion.

Glenmark Pharmaceuticals (Glenmark Pharma) has received final approval by the United States Food & Drug Administration (U.S. FDA) for Apremilast Tablets, 10 mg, 20 mg and 30 mg, the generic version of Otezla Tablets, 10 mg, 20 mg and 30 mg, of Amgen Inc.

According to IQVIATM sales data for the 12-month period ending August 2023, the Otezla Tablets, 10 mg, 20 mg, and 30 mg market achieved annual sales of approximately USD 3.7 billion. Glenmark’s current portfolio consists of 188 products authorized for distribution in the U.S. marketplace and 50 ANDA’s pending approval with the U.S. FDA.

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. Glenmark Pharmaceuticals is a global research-led pharmaceutical company with a presence across Generics, Specialty and OTC business with operations in over 50 countries.

The company focused on developing new chemical and biological entities, with a speciality in drug discovery for inflammation, metabolic disorders, and pain. Its formulation business is organized in India, Latin America, Central Eastern Europe, and semi-regular markets.

Glenmark Pharmaceuticals is currently trading at Rs 800.90, up by 3.40 points or 0.43% from its previous closing of Rs 797.50 on the BSE. The scrip opened at Rs 796.50 and has touched a high and low of Rs 805.55 and Rs 796.50 respectively. So far 3169 shares have been traded on the counter.

The BSE group ‘A’ stock of face value of Rs 1 has touched a 52-week high of Rs 879.15 and a 52-week low of Rs 369.50. Last one week high and low of the scrip stood at Rs 809.25 and Rs 778.35 respectively. The current market cap of the company is Rs 22,502.91 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 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.