Glenmark receives ANDA approval for FS topical oil

Glenmark Pharmaceuticals Inc., USA has received the final approval from the USFDA for FS topical oil. Shares of the company, however, slipped on Friday morning.

The US Food and Drug Administration (USFDA) has granted Glenmark the final approval for Fluocinolone Acetonide Topical Oil, 0.01% (Body Oil), a generic version of Derma-Smoothe/FS Topical Oil, 0.01% (Body Oil), of Hill Dermaceuticals, Inc.

The IQVIA stats indicate the DermaSmoothe/FS Topical Oil, 0.01% market achieved annual sales of approximately US$14.5 million for the 12 month period ending August 2018.
Glenmark Pharmaceuticals Limited is a global pharmaceutical company. The company is engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs). It focuses on manufacturing products across therapeutic areas of dermatology, respiratory and oncology. It has offices in over 40 countries and operates approximately 20 manufacturing facilities in over five countries. It operates over five research and development (R&D) centres.

On Friday, the shares of the company opened slightly higher at Rs. 615.40 per share against Thursday’s close of Rs. 612.65 on the BSE. At 11:28 hours, the shares were trading at Rs. 597.15, down 2.53 per cent. The intraday high was Rs. 615.40 and intraday low was Rs. 585 per share on the BSE. Its 52-week high was Rs. 711.55 and the 52-week low was Rs. 483.60 per share on the BSE. Meanwhile, BSE Sensex was at 33,517.78 level, down 0.51 per cent.