Glenmark gets USFDA nod for ear drops

Pharma major Glenmark has received the final approval from United States Food and Drug Association (USFDA) for Fluocinolone Acetonide Oil, 0.01 per cent. The stock was trading 0.81 per cent higher.

Fluocinolone Acetonide Oil, 0.01 per cent (Ear Drops), a generic version of DermaOtic Oil, 0.01 per cent (Ear Drops) of Hill Dermaceuticals, Inc. The IQVIA sales data for the 12-month period ending October 2018 suggests that DermaOtic Oil, 0.01 per cent (Ear Drops) achieved annual sales of approximately $18.1 million in the US market.

Glenmark Pharmaceuticals is engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs). It has approximately seven molecules, over two NCEs and approximately five NBEs in various stages of pre-clinical and clinical development. It is focused on developing and marketing branded and generic formulations.

On Tuesday, the stocks of Glenmark opened at Rs. 683 per share. At 13:04 hours, the shares of were trading at Rs. 684.35, up by 0.14 per cent. The intraday high was Rs 692.65 and intraday low was Rs. 681.75 per share on the BSE. Its 52-week high was Rs. 711.55 and 52-week low was Rs. 483.60 per share on the BSE. Meanwhile, the BSE Sensex was at 36,160.66 level, down by 0.30 per cent.