Glenmark receives USFDA approval for Azelaic Gel

Glenmark has received the final USFDA approval for Azelaic Gel used for acne and rosacea.

The company has been granted the final US Food and Drug Administration (USFDA) approval for the Azelaic Gel, 15 per cent which is a generic version of Finacea Gel of Leo Pharma. Finacea is a topical gel containing Azelaic acid, a naturally occurring acid and Azelaic acid helps the skin to renew itself more quickly. It also helps kill the bacteria that cause acne and rosacea.

The IQVIA stats suggest that the Finacea Gel, 15 per cent achieved annual sales of approximately US$64.1 million for the 12 months period ending September 2018.

Glenmark Pharmaceuticals Ltd. (GPL) is a research-driven, global, integrated pharmaceutical organization. The company has a significant presence in the branded generics markets across emerging economies including India. It focuses on manufacturing products across therapeutic areas of dermatology, respiratory and oncology.

On Tuesday, the shares of the company opened at Rs. 648.90 per share against Monday’s close of Rs. 646.35 on the BSE. At 10:00 hours, the shares of the company were trading at Rs 643, down by 0.52 per cent. The intraday high was Rs 649.40 and intraday low was Rs. 641.65 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.

The BSE Sensex was at 35,700.46 level, down by 0.22 per cent.