Glenmark Pharmaceuticals trades higher on the bourses

Glenmark Pharmaceuticals is currently trading at Rs. 301.25, up by 2.00 points or 0.67% from its previous closing of Rs. 299.25 on the BSE.

The scrip opened at Rs. 304.00 and has touched a high and low of Rs. 304.00 and Rs. 299.80 respectively. So far 36,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 351.20 on 26-Jul-2011 and a 52 week low of Rs. 241.60 on 28-Feb-2011.

Last one week high and low of the scrip stood at Rs. 307.80 and Rs. 296.00 respectively. The current market cap of the company is Rs. 8,146.00 crore.

The promoters holding in the company stood at 48.29% while Institutions and Non-Institutions held 39.29% and 12.42% respectively.

Glenmark Pharmaceuticals’ (Glenmark) novel chemical entity (NCE) ‘GRC 17536’ has successfully completed Phase I trials (single ascending dose and multiple ascending dose) in the Netherlands. GRC 17536 is a global first-in-class program targeting the TRPA1 receptor antagonists for pain and respiratory disorders. TRPA1 belongs to transient receptor potential (TRP) family of ion channels, which have generated a lot of interest as pain targets due to their distinguishing role in peripheral and/or central pain signal transmission.

Glenmark has now planned to initiate Phase II studies in pain indications. The company has filed regulatory submissions with the MHRA, UK, and BfArM, Germany, to initiate Phase 2a proof-of-concept study in patients with painful diabetic peripheral neuropathy. This double-blind, parallel group, placebo controlled study is designed to provide efficacy endpoints upon several weeks of dosing. The projected start of the study is March 2012, subject to regulatory approvals.

Additionally, GRC 17536 will be tested via the inhaled route for use in the respiratory indications. The company has observed good efficacy for GRC 17536 when administered via inhaled route in preclinical pharmacology studies. Phase 1 enabling toxicity studies via inhalation route for GRC 17536 are nearing completion. Glenmark aims to initiate human inhalation studies by June 2012 with an integrated Phase 1/2a protocol in healthy adult volunteers and mild asthmatics followed by an allergen challenge study in patients with mild asthma.

Glenmark Pharmaceuticals, a leader among the emerging market companies in drug discovery and development and most of its active substances in the pipeline are first-in-Class. Glenmark’s achievements over the year include a major deal with Sanofi in Crohn's disease, completing Phase II trials of its first novel product, crofelemer and demonstrated higher sales and profit growth.