Glenmark Pharmaceuticals News

Glenmark stocks closed 1.16 per cent higher at Rs 480.90 on BSE. On the NSE, it closed with a gain of 1.48 per cent at Rs 482.75. During the day, the scrip had jumped 6.96 per cent to Rs 508.50 on the BSE.

Glenmark Pharmaceuticals on Friday reported a 23.96 percent rise in consolidated net profit to Rs 226.78 crore for the first quarter ended June 30, 2016, mainly on account of robust sales.

Glenmark Pharmaceuticals has received final approval from the US health regulator USFDA for oral contraceptives and leukemia treatment injection.

Glenmark Pharmaceuticals seeks shareholders' approval to raise up to USD 500 million (around Rs 3,300 crore) by issue of securities to fund its expansion plans, including setting up of new manufacturing facilities.  

Glenmark Pharmaceuticals has received the final nod from the US health regulator for a generic version of anti-bacterial drug Zyvox.

The major gainers and losers announcing corporate earnings on Friday:

Shares of Glenmark Pharmaceuticals today climbed 6 per cent after the company reported 20 per cent increase in consolidated net profit for the second quarter ended September 30.

Glenmark Pharmaceuticals Thursday reported 19.81 percent increase in consolidated net profit to Rs 197.78 crore for the second quarter ended September 30, driven by good growth in India, US and Europe.

Drug firm Glenmark Pharmaceuticals today said it is evaluating legal options after the Delhi High Court restrained it from manufacturing and selling generic version of MSD's anti-diabetes medicines Januvia and Janumet.

In a blow to Indian drug firm Glenmark Pharmaceuticals, Delhi High Court Wednesday restrained it from making, selling, advertising, distributing or exporting its anti-diabetes drugs Zita and Zita-Met on the ground that it violated the patent of US pharma major Merck Sharp and Dohme (MSD).

Glenmark Pharmaceuticals Tuesday said it is looking at strong growth in the US market and developing a pipeline of innovative products to offset weakness in emerging markets.

In Mumbai trading so far this year, Lupin Ltd has climbed 32 percent, Dr. Reddy`s 31 percent, Glenmark Pharmaceuticals 42 percent and Wockhardt 29 percent.

"Glenmark Pharmaceuticals Inc., USA has been granted final approval by the United States Food & Drug Administration (USFDA) for Drospirenone and Ethinyl Estradiol tablets USP, 3 mg/0.02 mg," the company said in a BSE filing.

Glenmark Pharmaceuticals on Thursday posted 3.29 percent rise in consolidated net profit at Rs 190.93 crore for the first quarter ended June 30, driven by sales in domestic as well as overseas markets.

Glenmark Pharmaceuticals has received final nod from the US health regulator for generic oral contraceptive Levonorgestrel/Ethinyl Estradiol tablets and plans to commence shipping of the product immediately.

Glenmark Pharma was today trading at Rs 867.35 in the afternoon trade on BSE, up 1.19 percent.

Glenmark Pharmaceuticals has raised Rs 945 crore by issuing over 1 crore shares to Aranda Investments, an indirect subsidiary of Temasek Holdings.

The Reserve Bank Tuesday allowed foreign institutional investors (FIIs) to buy up to 49 percent stake in homegrown drug major Glenmark Pharmaceuticals.

Glenmark is barred from producing sitagliptin until the next hearing on the case, the order said.

The product is the therapeutic equivalent of Danish pharma firm Leo Pharma A/S Dovonex's topical cream of the same strength.