Glenmark moves up on receiving final approval for Potassium Chloride Extended-Release tablets

Glenmark Pharmaceuticals is currently trading at Rs. 844.15, up by 1.05 points or 0.12% from its previous closing of Rs. 843.10 on the BSE.

The scrip opened at Rs. 841.95 and has touched a high and low of Rs. 846.50 and Rs. 838.55 respectively. So far 3786 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1261.95 on 21-Aug-2015 and a 52 week low of Rs. 671.50 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 871.00 and Rs. 838.00 respectively. The current market cap of the company is Rs. 23789.60 crore.

The promoters holding in the company stood at 46.48%, while Institutions and Non-Institutions held 42.06% and 11.46% respectively.

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Potassium Chloride Extended-Release Tablets USP, 10 mEq (750 mg) and 20 mEq (1500 mg), the generic version of K-Dur (Potassium Chloride) Extended-Release Tablets, 10 and 20 mEq, of Merck Sharp and Dohme Corp (which is no longer being marketed in the United States).

The K-Dur (Potassium Chloride) Extended-Release Tablets, 10 and 20 mEq market  achieved annual sales of approximately $283.2 million, according to IMS Health sales data for the 12 month period ending May 2016.

Glenmark's current portfolio consists of 117 products authorized for distribution in the US marketplace and 61 ANDA's pending approval with the USFDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.

Source: Glenmark moves up on receiving final approval for Potassium Chloride Extended-Release tablets