Glenmark Pharma gains 3% on tentative USFDA nod for generic azelaic acid

NEW DELHI: Shares of Glenmark Pharmaceutical ended with gains of 1.17 per cent in Thursday's trade after the company reported tentative approval from the US drug regulator to its generic version of azelaic acid, which is used to treat skin inflammation.

Reacting to the development, the stock saw its value surge 3.10 per cent to hit a high of Rs 743.95 on the BSE.

Glenmark will market this product upon receiving final approval of its Azelaic Acid Gel, 15 per cent ANDA. The patent listed in the Orange Book for Finacea® Topical Gel, 15% is scheduled to expire on November 18, 2018, it said in a filing to the bourses.