Glenmark Pharmaceuticals is currently trading at Rs. 689.55, up by 2.75 points or 0.40% from its previous closing of Rs. 686.80 on the BSE.
The scrip opened at Rs. 687.00 and has touched a high and low of Rs. 690.30 and Rs. 683.05 respectively. So far 1154 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 711.55 on 10-Sep-2018 and a 52 week low of Rs. 483.60 on 30-May-2018.
Last one week high and low of the scrip stood at Rs. 698.00 and Rs. 657.65 respectively. The current market cap of the company is Rs. 19379.31 crore.
The promoters holding in the company stood at 46.54%, while Institutions and Non-Institutions held 38.19% and 15.28% respectively.
Glenmark Pharmaceuticals has forayed into the branded dermatology segment in the United States. The branded portfolio for the US market will be developed and commercialized by Glenmark Therapeutics Inc., USA, which is a wholly owned subsidiary of Glenmark Holding, SA. This represents an important step in the company’s long-term strategy to build a robust branded business in the US, alongside the company’s existing and successful generics business.
In support of this new business, Glenmark Therapeutics recently acquired the rights to seven branded dermatology products from Exeltis USA, Inc. The acquisition includes Ecoza (econazole nitrate) topical foam, 1%, an antifungal medicine indicated for the treatment of interdigital tinea pedis or athlete’s foot, and Recedo topical gel, a leading prescription product for scar management. The cumulative sales of the seven acquired brands were $9 million.
Glenmark Pharmaceuticals is a global pharmaceutical company. The company is engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs). Its segments are India, United States, Latin America, Europe and Rest of the World (ROW).
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