Glenmark Pharmaceuticals receives ANDA approval for Clindamycin Phosphate Gel USP, 1%

Glenmark Pharmaceuticals Limited (Glenmark) has received final approval by the United States Food & Drug Administration (U.S. FDA) for Clindamycin Phosphate Gel USP, 1%, the generic version of Cleocin T® Gel, 1%, of Pharmacia & Upjohn.

According to IQVIA™ sales data for the 12 month period ending December 2020, the Cleocin T® Gel, 1% market achieved annual sales of approximately $73.8 million.

Glenmark's current portfolio consists of 169 products authorized for distribution in the U.S. marketplace and 42 ANDA's pending approval with the U.S. FDA. 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.

Shares of GLENMARK PHARMACEUTICALS LTD. was last trading in BSE at Rs.507.45 as compared to the previous close of Rs. 501.1. The total number of shares traded during the day was 95719 in over 2112 trades.

The stock hit an intraday high of Rs. 509.8 and intraday low of 492.35. The net turnover during the day was Rs. 47851279.

Source : Equity Bulls

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