Glenmark Pharma in good health

Glenmark Pharma is up 2.5% at Rs.553 levels, with an intra day high at Rs.557.

This pharma stock has been in the green consistently for some time now. Today, the company has announced receiving the final ANDA approval from US FDA for r Fluocinonide Cream USP 0.1%, the generic version of Vanos Cream® by Medicis.

Fluocinonide Cream is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid responsive dermatoses. According to IMS Health sales data for the 12 month period ending March 2014, Fluocinonide Cream garnered annual sales of approximately USD 103 million.

Glenmark’s current portfolio consists of 93 products authorized for distribution in the U.S. marketplace and 71 ANDA’s pending approval with the U.S. 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.

Last week, the company had announced receiving ANDA approval for Telmisartan Tablets, for which Glenmark has commenced distribution of the product immediately.