Glenmark gets USFDA approval for generic skin cream
The USFDA has granted final approval to Glenmark Pharmaceuticals Inc, US for Clobetasol Propionate Cream USP, 0.05%, which is the generic version of Temovate Cream, 0.05%, of Fougera Pharmaceuticals, Inc.
The skin treatment cream is used for treating inflammation and itching of skin caused due to various factors. The Temovate cream 0.05% had achieved annual sales of US$ 118 million for the period of 12 months ending on March 2018. This sales data was provided by IQVIA.
Currently, Glenmark’s portfolio consists of 134 products which have been authorized for distribution in the US marketplace. Also, its 61 ANDAs are pending for approval with the USFDA. With this, the company is exploring for external development partnerships that will supplement and accelerate the growth of its existing pipeline and portfolio.
Glenmark Pharmaceuticals Ltd. (GPL) is a research-driven, global, integrated pharmaceutical organization headquartered in Mumbai, India. It has a significant presence in the branded generics markets across emerging economies including India and having 17 manufacturing facilities across five countries and has six R&D centres.
On Thursday, the stock closed at Rs. 516.05 per share. On Friday, it opened at Rs. 520 and made intra-day high of Rs. 521 and intra-day low of Rs. 504. It has also touched 52-week low at Rs. 504. Last Friday, the stock had closed at Rs. 535.05. Thus, in past one week the stock has dipped by 5.8 per cent.