Glenmark to launch Tarka; shares gain

MUMBAI - Shares of Glenmark Pharmaceuticals surged higher Tuesday after the US District court ruled in favour of generic version of hyper-tension drug Tarka. The company is likely to enjoy 6-month exclusivity period.

This paves way for the Indian drug major to launch generic version in next 30 days. The drug has a market size of over $60 million.

At 1:13 pm, the stock was at Rs 262, up Rs 5.4 or 2.10 per cent. The stock touched a high of Rs 268.90 and low of Rs 260 in trade so far.