Glenmark Pharmaceuticals shares gain on USFDA nod for Desoximetasone

MUMBAI: Shares of Glenmark Pharmaceuticals gained momentum after receiving final approval from the US health regulator for its generic Desoximetasone Ointment.

At 09:42 a.m.; the stock was at Rs 506.75, up 2.42 per cent, on the BSE. It touched a high of Rs 508.35 and a low of Rs 492.70 in trade today.

The company will commence shipping of the product immediately.

The ointment is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses.

Glenmark Generics Inc USA, the subsidiary of Glenmark Generics Ltd has been granted final abbreviated new drug approval ( ANDA) from the United States Food and Drug Administration (USFDA) for Desoximetasone Ointment USP, 0.25 per cent," Glenmark Pharmaceuticals said in a statement.