Glenmark Pharma is currently trading at Rs. 314.30, up by 5.70 points or 1.85% from its previous closing of Rs. 308.60 on the BSE.
The scrip opened at Rs. 311.00 and has touched a high and low of Rs. 316.70 and Rs. 309.00 respectively. So far 70,486 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 389.75 on 07-Dec-2010 and a 52 week low of Rs. 241.60 on 28-Feb-2011.
Last one week high and low of the scrip stood at Rs. 316.70 and Rs. 304.55 respectively. The current market cap of the company is Rs. 8474.65 crore.
The promoters holding in the company stood at 48.31% while Institutions and Non-Institutions held 37.37% and 14.31% respectively.
Glenmark Generics’ (GGL) United States (US) subsidiary -- Glenmark Generics Inc., (GGI) -- has been granted final approval for its Abbreviated New Drug Application (ANDA) from the United States Food and Drug Administration (USFDA) for Mupirocin ointment USP, 2%.
Mupirocin ointment is indicated for the topical treatment of impetigo due to: Staphylococcus aureus and Streptococcus pyogenes and is available in a 22 gram tube presentation. Mupirocin ointment garnered annual sales of $55 million and achieved a 9% increase in growth compared to the same period last year.
Glenmark’s current portfolio consists of 68 products authorized for distribution in the US marketplace and 39 ANDA’s pending approval with the US FDA. In addition to these internal filings, GGI continues to identify and explore external development partnerships to supplement and accelerate the growth of the existing pipeline and portfolio.
GGL is a subsidiary of Glenmark Pharmaceuticals and aims to be a global integrated Generic and API leader. GGL has an established presence in North America, EU and Argentina and maintains marketing front-ends in these countries.
On consolidated basis, the group’s net profit after tax for the year ended March 31, 2011 increased marginally by 38.30% at Rs 457.83 crore as compared to Rs 331.03 crore for the previous year. Total income for the year increased by 21.93% at 3089.59 crore as compared to Rs 2533.81 crore for the previous year.
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