Shares of Glenmark Pharmaceuticals Ltd surged 1.5% to touch a day’s high of Rs 1,509 on 21st March after the firm announced that its subsidiary, Glenmark Pharmaceuticals Inc., USA, has received final approval from the US Food & Drug Administration (USFDA) for its Olopatadine Hydrochloride Ophthalmic Solution USP, 0.2% (OTC).
Glenmark’s product is bioequivalent to Pataday Once Daily Relief Ophthalmic Solution, 0.2% (OTC), developed by Alcon Laboratories, Inc.
Glenmark Therapeutics Inc., USA, will distribute the product in the US, strengthening its ophthalmic portfolio.
The Pataday 0.2% (OTC) market recorded annual sales of approximately $50.7 million as of 22nd February 2025, per Nielsen data.
Marc Kikuchi, President & Business Head of North America, emphasised the firm’s commitment to expanding its OTC ophthalmic portfolio.
He stated that adding Olopatadine Hydrochloride Ophthalmic Solution 0.2% reflects Glenmark’s focus on market needs and quality OTC products.
At 11:09 AM, the shares of Glenmark Pharma were trading 1.34% higher at Rs 1,498.65 on NSE.
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