Glenmark Pharmaceuticals Ltd updates on Baddi facility

Glenmark Pharmaceuticals Limited has announced about the US FDA placing the Baddi (India) facility under import alert 66-40. Due to medical necessity and potential drug shortage expectations, the US FDA has provided an exception which enables the Company to supply Atovaquone Oral Suspension USP 750mg/5 to the US market. The exception will be reconsidered if the market conditions change.

The Company will engage with the agency to resolve the import alert at the earliest. The Company is committed to maintaining the highest quality and compliant manufacturing standards at all of its facilities across the globe.

Shares of Glenmark Pharmaceuticals Limited was last trading in BSE at Rs. 399.00 as compared to the previous close of Rs. 413.05. The total number of shares traded during the day was 17930 in over 1147 trades.

The stock hit an intraday high of Rs. 414.30 and intraday low of 398.05. The net turnover during the day was Rs. 7238910.00.

Source : Equity Bulls

Keywords

GlenmarkPharmaceuticals INE935A01035 Exception USFDA Atovaquone OralSuspension USmarket Baddi