Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (U.S. FDA) for Desonide Ointment, 0.05%, the generic version of Desonide Ointment, 0.05%, of Perrigo New York Inc.

According to IMS Health sales data for the 12 month period ending July 2017, the Desonide Ointment, 0.05% market1 achieved annual sales of approximately USD 23.4 million.

Glenmark's current portfolio consists of 124 products authorized for distribution in the U.S. marketplace and 62 ANDA's pending approval with the U.S. FDA. 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.

Shares of the company gained Rs 10.75, or 1.77%, to trade at Rs 617.70. The total volume of shares traded was 42,575 at the BSE (9.52 a.m., Tuesday).