Glenmark Pharmaceuticals (Glenmark), a manufacturer of generic formulation products and API, witnessed a rise in share price on Wednesday after the company has been granted final approval by the United States Food & Drug Administration for Drospirenone and Ethinyl Estradiol tablets. These tablets are the generic version of Yaz tablets of Bayer HealthCare Pharmaceuticals.
The company plans to commence shipping of Drospirenone and Ethinyl Estradiol tablets USP, 3 mg/0.02 mg immediately.
According to IMS Health sales data for the 12 month period ending June 2015, the Yaz market achieved annual sales of approximately USD 170.1 million.
Shares of the company are trading at Rs 1,173.60, up Rs 13.5, or 1.16% at the Bombay Stock Exchange (BSE) on Wednesday at 9:56 a.m.
