Glenmark Pharmaceuticals

Glenmark Pharma posted net profit of Rs. 4.58bn for the year ended March 31, 2011

Glenmark Pharma posted net profit of Rs. 4.58bn for the year ended March 31, 201

Glenmark Pharmaceuticals Ltd (GPL), a Mumbai-based global integrated pharma giant has posted its consolidated net profit of Rs. 4.58bn for the year ended March 31, 2011. While last year the company recorded a net profit at Rs 3.31 bn. Therefore the company has posted a gain in consolidated net profit by 38 per cent for the financial year 2010-11.

It has become difficult for the company to compare its consolidated figures of current year with previous fiscal year because company has adopted new accounting system.

Companies in drug control suit see drop in the BSE

Companies in drug control suit see drop in the BSE

The BSE saw US based company Merck & Co and Glenmark Pharmaceuticals stocks drop by almost 2%. The law suit which the two companies were involved in for the control of production and manufacturing of Ezetimibe was settled out of court and lead to the drop in the stock exchange.

Glenmark licenses drug molecule to Sanofi

Glenmark licenses drug molecule to Sanofi

Glenmark Pharmaceuticals made its license with Sanofi Aventis for its chronic pain molecule for Rs. 89 Crore. Glenmark Pharmaceuticals is an Indian based company who are researching original drugs.

Glenmark is forced to sell its molecule to partners to be able to receive the required funds needed for further research and development.

“You will continue to see more such deals,” Glenn Saldanha CEO told ET. “I have burnt my fingers before, so I am not making any commitments on timelines for more out-licensing deals.”

Glen mark enters into an agreement with Sanofi – Aventis

Glen mark enters into an agreement with Sanofi – Aventis

In a recent development, the company press release said, Glenmark Pharmaceuticals, a wholly owned subsidiary of Glen Pharmaceuticals Limited India (GPL) has entered into an agreement with Sanofi-Aventis to grant a license for the development and commercialization of novel agents to treat chronic pain. The total milestone payment could reach upto USD 325 million and, “In addition, Glenmark is eligible to receive tiered double-digit royalties on sales of products commercialized under the license." The company’s press release said.

USFDA approves Glenmark's NDA request

USFDA approves Glenmark's NDA request

The American health regulator, US Food and Drug Administration (FDA), according to drug maker, Glenmark has accepted its New Drug Application (NDA) for its painkiller oxycodone hydrochloride capsules which would eventually keep the doors of US market open for the company.

The drug maker said, "FDA in a letter to the company indicated it has completed the filing review and has begun reviewing the application for oxycodone hydrochloride."

Glenmark Pharmaceuticals wins USFDA approval for Ciclopirox cream

Drug manufacturer Glenmark Pharmaceuticals has announced that USFDA has granted authorization for selling and distribution of Ciclopirox cream in the US market.

The company has obtained approval for Ciclopirox cream in the strength of 0.77%.  The approved product is the generic version of Loprox cream marketed by Medicis.

Ciclopirox Cream is prescribed for treating fungal as well as yeast infections of the skin, such as athlete`s foot, jock itch, and ringworm.

Buy Glenmark Pharma For Short Term: Nirmal Bang

Nirmal Bang, one of the leading equity research-cum-broking house, has recommended a buy on Glenmark Pharmaceutical Ltd with a target of Rs 275 in the short term.

According to Nirmal Bang, “Buy and hold with a long time horizon, stock has consolidated for quite some time in the region of 206-228 and today with huge volumes has shown strong sign of breaking this trading band, support exits at 214 which is 200-day moving average, unless the counter breaks below this point there is no sign of weakness and if trades above 240 then look for 275.”

Glenmark unit gets tentative approval from USFDA for Ezetimibe

Glenmark unit gets tentative approval from USFDA for Ezetimibe Glenmark Generics Limited (GGL), a subsidiary of Glenmark Pharmaceuticals Ltd. (Glenmark), has received tentative approval from the US Food and Drug Administration (FDA) for the generic version of cholesterol lowering drug Ezetimibe, which was sold under the brand name 'Zetia' in 10 mg strength.

Glenmark Pharmaceutical unit gets approval for Lithium Carbonate Tablets

United States Food and Drug AdministrationGlenmark Generics Inc. USA (GGI), a subsidiary of Glenmark Pharmaceutical, has received ANDA approval from the United States Food and Drug Administration (U. S. FDA) for Lithium Carbonate 150 mg, 300 mg and 600 mg capsules.

The company plan to immediately commence marketing and distribution of these products in the U. S. Market.

Glenmark Gets USD 15 Mn From Forest Labs

Glenmark Pharmaceuticals has got a milestone payment of $15 million from US-based Forest Laboratories under its drug development contract for its lead molecule Oglemilast (GRC 3886).

Glenn Saldanha, managing director and chief executive officer said, “The milestone follows a favourable response from the US FDA (Food and Drug Administration), allowing Forest to initiate additional phase II studies.”