21 Mar 2025

Glenmark Pharma Shares Rise, Secures USFDA Approval for Olopatadine Hydrochloride Ophthalmic Solution

Glenmark Pharmaceuticals is currently trading at RS. 1501.30, up by 23.15 points or 1.57% from its previous closing of RS. 1478.15 on the BSE.

The stock opened at RS. 1497.10 and recorded a high of RS. 1509.80 and a low of RS. 1487.95. A total of 3019 shares have been traded so far.

A BSE group 'A' stock with a face value of RS. 1, Glenmark reached a 52-week high of RS. 1830.05 on October 15, 2024, and a 52-week low of RS. 936.05 on March 26, 2024. Over the last week, the stock's high and low were RS. 1509.80 and RS. 1399.55, respectively. The company's current market capitalization stands at RS. 42494.71 crore.

The company's shareholding structure includes 46.65% held by promoters, 37.40% by institutions, and 15.96% by non-institutions.

In a significant development, Glenmark Pharmaceuticals' US-based subsidiary, Glenmark Pharmaceuticals Inc., USA, has received final approval from the United States Food & Drug Administration (USFDA) for Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% (OTC). This product has been deemed bioequivalent to Pataday Once Daily Relief Ophthalmic Solution, 0.2% (OTC) of Alcon Laboratories, Inc. Glenmark Therapeutics Inc., USA, will distribute the approved product in the U.S. market.

According to Nielsen syndicated data for the 52-week period ending February 22, 2025, the Pataday Once Daily Relief Ophthalmic Solution, 0.2% (OTC) market recorded annual sales of approximately $50.7 million.

Glenmark Pharmaceuticals is a global research-driven pharmaceutical company operating in over 50 countries, specializing in Generics, Specialty, and OTC business segments.