Glenmark receives USFDA approval for Atovaquone Oral Suspension USP
Glenmark has been granted the final USFDA approval for Atovaquone Oral Suspension USP, 750 mg/5 mL. The shares of the company opened 0.7 per cent higher than its previous close.
The United States Food and Drug Administration (USFDA) has approved Glenmark’s Atovaquone Oral Suspension which is a generic version of Mepron Oral Suspension, 750 mg/5 ml, of GlaxoSmithKline LLC. The IQVIA sales data suggests that the Mepron Oral Suspension, 750 mg/5 ml achieved annual sales of around US$119.1 million in the US market.
Glenmark Pharmaceuticals is focused on the development of new chemical entities (NCEs) and new biological entities (NBEs). It is engaged in developing and marketing branded and generic formulations. It focuses on manufacturing products across therapeutic areas of dermatology, respiratory and oncology. Its active pharmaceuticals ingredients (API) business spans over 80 countries.
On Thursday, the shares of the company opened at Rs. 646.85 per share against Wednesday’s close of Rs. 641.20 on the BSE. At 10:44 hours, despite the news, the shares of the company were trading down by 1.12 per cent at Rs 634.05. The intraday high was Rs. 652 and intraday low was Rs. 631.80 per share on the BSE. Its 52-week high was Rs. 711.55 and 52-week low was Rs. 483.60 per share on the BSE. Meanwhile, the BSE Sensex was at 35,310.28, up by 0.31 per cent.