Glenmark gains 2 per cent on USFDA approval

Pharma major has received tentative USFDA approval for Topiramate Extended-Release Capsules. The shares of the company rose almost 2 per cent up intraday on Thursday.

The United States Food & Drug Administration (USFDA) has given a tentative approval for Topiramate Extended‐Release Capsules, 25 mg, 50 mg, 100 mg, 150 mg, and 200 mg. It is a generic version of Qudexy 1 XR Extended‐Release Capsules, 25 mg, 50 mg, 100 mg, 150 mg, and 200 mg, of Upsher‐ Smith Laboratories, LLC.

According to IQVIATM sales stats for the 12 month period ending November 2018, the Qudexy XR Extended‐Release Capsules, 25 mg, 50 mg, 100 mg, 150 mg, and 200 mg has achieved annual sales of approximately US$84.0 million.

On Thursday, the stock of Glenmark opened at Rs. 651.15 per share as against Wednesday’s close of Rs. 649.50 per share. At closing hours, the shares were trading at Rs. 650.90 per share, up by 0.22 per cent. The stock's intraday high was Rs. 658.70 and intraday low was at Rs 641.65 per share on the BSE. Its 52-week high was Rs 711.55 and 52-week low was 483.60. Meanwhile, the BSE Sensex was at 36,195.10 level, up by 0.24 per cent.