Glenmark Pharma share price added a percent in the early trade on March 24 after the company received USFDA approval for Chlorpromazine Hydrochloride tablets.
"... has received final approval by the United States Food & Drug Administration (USFDA) for Chlorpromazine Hydrochloride Tablets USP, 10 mg, 25 mg, 50 mg, 100 mg, and 200 mg, the generic version of Thorazine Tablets, 10 mg, 25 mg, 50 mg, 100 mg, and 200 mg, of GlaxoSmithKline," the company said in a release.
Glenmark has been granted a competitive generic therapy (CGT) designation for Chlorpromazine Hydrochloride Tablets USP, therefore, with this approval, Glenmark is the first approved applicant for such competitive generic therapy and is eligible for 180 days of CGT exclusivity upon commercial marketing, it added.
According to IQVIATM sales data for the 12 month period ending January 2021, the Thorazine Tablets achieved annual sales of approximately $108.6 million.
Glenmarkâs current portfolio consists of 171 products authorised for distribution in the US marketplace and 41 ANDAs' pending approval with the USFDA.
In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.
At 09:43 hrs Glenmark Pharma was quoting at Rs 469.10, up Rs 3.45, or 0.74 percent on the BSE.
The share touched a 52-week high of Rs 572.70 and a 52-week low of Rs 184 on 22 June, 2020 and 23 March, 2020, respectively.
Currently, it is trading 18.09 percent below its 52-week high and 154.95 percent above its 52-week low.