Glenmark to market Montlezir in Russia

Glenmark Pharmaceuticals has received approval from the Ministry of Healthcare, Russia to market Montlezir. Shares of Glenmark, however, were trading 2 per cent lower at Rs. 325.15 in the afternoon session of Monday.

Montlezir, Levocetirizine Dihydrochloride 5mg plus Montelukast Sodium 10mg film‐coated tablets are used as a prescription product for the treatment of seasonal and perennial allergic rhinitis in patients above 15 years of age. Montlezir is projected to be available in the Russian market in Q3 FY 2019‐20.

Last week, Glenmark Pharmaceuticals was in news as it announced that its shareholders will get dividend in FY21 after monetisation of its innovative and bulk drug business units in a year. The company is mulling ways to pare its debt.

Glenmark Pharmaceuticals is a global pharmaceutical company engaged in the development of new chemical entities (NCEs) and new biological entities (NBEs). Its major areas of business are India, the United States, Latin America, Europe and the Rest of the World (ROW).

The shares of Glenmark Pharmaceuticals on Monday opened at Rs. 336 as against Friday’s close of Rs. 333.30. At 14:54 hours it was trading at Rs. 325.20, down by 2.43 per cent from its previous close. The stock hit an intraday high of Rs. 336 and intraday low was Rs. 319.35. Its 52-week high was Rs. 706 and 52-week low was Rs. 319 per share on the BSE.