The announcement was made before market hours today, 20 June 2019.

Meanwhile, the S&P BSE Sensex was down by 181.30 points, or 0.46% to 39,294.04.

On the BSE, 6452 shares were traded in the counter so far compared with average daily volumes of 26,000 shares in the past two weeks. The stock had hit a high of Rs 513.50 and a low of Rs 506.05 so far during the day. It hit a 52-week high of Rs 711.55 on 10 September 2018 and a 52-week low of Rs 505.30 on 19 June 2019.

Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted tentative approval by the United States Food & Drug Administration (USFDA) for Clindamycin Phosphate Foam, 1%, a generic version of Evoclin Foam, 1%, of Mylan Pharmaceuticals Inc.

According to IQVIA sales data for the 12 month period ending April 2019, the Evoclin Foam, 1% market achieved annual sales of approximately $17 million.

Glenmark's current portfolio consists of 156 products authorized for distribution in the US marketplace and 59 ANDA's pending approval with the USFDA. 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.

On a consolidated basis, Glenmark Pharmaceuticals's net profit rose 6.6% to Rs 161.66 crore on a 12.4% rise in the net sales to Rs 2526.08 crore in Q4 March 2019 over Q4 March 2018.

Glenmark Pharmaceuticals is a global, integrated pharmaceutical organization.

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Glenmark Pharmaceuticals has been grantedtentative approval by the United States Food & Drug Administration (U.S. FDA) for ClindamycinPhosphate Foam, 1%, a generic version of EVOCLIN®1 Foam, 1%, of Mylan Pharmaceuticals Inc.

According to IQVIA™ sales data for the 12 month period ending April 2019, the EVOCLIN® Foam, 1%market2 achieved annual sales of approximately $17.0 million.

Glenmark's current portfolio consists of 156 products authorized for distribution in the U.S. marketplaceand 59 ANDA's pending approval with the U.S. FDA. In addition to these internal filings, Glenmarkcontinues to identify and explore external development partnerships to supplement and accelerate thegrowth of its existing pipeline and portfolio.

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Glenmark Pharmaceuticals Ltd lost 3.05% today to trade at Rs 520.9. The S&P BSE Healthcare index is down 1.4% to quote at 12924.05. The index is down 6.73 % over last one month. Among the other constituents of the index, Caplin Point Laboratories Ltd decreased 3.05% and Dr Reddys Laboratories Ltd lost 3.02% on the day. The S&P BSE Healthcare index went down 0.25 % over last one year compared to the 10.91% surge in benchmark SENSEX.

Glenmark Pharmaceuticals Ltd has lost 13.59% over last one month compared to 6.73% fall in S&P BSE Healthcare index and 4.09% rise in the SENSEX. On the BSE, 5775 shares were traded in the counter so far compared with average daily volumes of 30405 shares in the past one month. The stock hit a record high of Rs 711.55 on 10 Sep 2018. The stock hit a 52-week low of Rs 513.1 on 06 Jun 2018.

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Net profit of Glenmark Pharmaceuticals rose 6.61% to Rs 161.66 crore in the quarter ended March 2019 as against Rs 151.63 crore during the previous quarter ended March 2018. Sales rose 12.38% to Rs 2526.08 crore in the quarter ended March 2019 as against Rs 2247.89 crore during the previous quarter ended March 2018.

For the full year,net profit rose 15.07% to Rs 924.99 crore in the year ended March 2019 as against Rs 803.87 crore during the previous year ended March 2018. Sales rose 8.17% to Rs 9705.08 crore in the year ended March 2019 as against Rs 8972.23 crore during the previous year ended March 2018.

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