Glenmark Pharma gets USFDA approval for skin cream

Glenmark Pharmaceuticals has been given a nod from the USFDA for Hydrocortisone Valerate Cream. The shares of the company went up by over 2 per cent. 

The company has received the US Food and Drug Administration’s final approval for generic Hydrocortisone Valerate cream USP, 0.2%, a generic version of Westcort Cream, 0.2%, of Sun Pharmaceutical Industries Inc. This cream is used for providing relief to inflammation and itching caused due to multiple skin conditions. 

According to IQVIA sales data for the 12-month period ending August 2018, the Westcort Cream, 0.2% market achieved annual sales of around US$17 million. 

On Monday, the shares of Glenmark opened a little higher at Rs. 606.90 per share on the BSE versus Friday’s close of Rs. 600. Its intraday high was Rs. 630.35 and intraday low was Rs. 596.35 per share on the BSE. Its 52-week high was Rs. 711.55 and its 52-week low was at Rs. 483.60 on the BSE. The share closed at Rs. 616 per share, up by 2.52 per cent.
 

The BSE Sensex closed at 34,865 level, up by 0.38 per cent or 131.52 points.