Shares of a global research-led pharmaceutical company are in focus during Monday’s trading session, after the company received approval from the Medicines and Healthcare products Regulatory Agency (MHRA) to market “Winlevi” in the United Kingdom.
Price Movement
With a market cap of Rs. 43,118.4 crores, the shares of Glenmark Pharmaceuticals Limited moved up by 0.6 percent to hit an intraday high at Rs. 1,550 on BSE, compared to its previous closing price of Rs. 1,540.2.
The stock delivered positive returns of nearly 84 percent in one year, while around 1 percent of negative returns in the last one month.
What’s the news
Cosmo Pharmaceuticals N.V. and Glenmark Pharmaceuticals Limited recently announced that Glenmark has received approval from the Medicines and Healthcare Products Regulatory Agency (MHRA) to market “Winlevi” in the United Kingdom, as per the latest regulatory filings with the stock exchanges.
This partnership highlights both companies’ commitment to expanding their dermatology portfolios and addressing the unmet needs of individuals suffering from acne vulgaris, a condition affecting millions globally and often causing both physical discomfort and psychological distress.
Under the terms of an agreement signed in September 2023, Glenmark has acquired the rights to distribute the product in Europe and South Africa from Cosmo Pharmaceuticals.
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About the Winlevi
“Winlevi” is the first topical treatment for acne vulgaris in nearly 40 years, approved for patients aged 12 years and older. This marks a significant achievement in both companies’ dedication to providing innovative, patient-centered dermatological solutions.
The product’s active ingredient, clascoterone, is the first topical androgen receptor inhibitor available commercially. It targets androgen receptors in sebaceous glands without causing systemic anti-androgen effects, making it safe for use in both males and females.
Acne vulgaris is one of the most prevalent skin conditions, affecting over 90 percent of people at some point in their lives. Beyond its physical impact, it can also have significant emotional and psychological consequences, influencing individuals’ self-esteem and mental well-being.
About the Partner Entity
Founded in 1997, Cosmo Pharmaceuticals N.V. is headquartered in Dublin (Ireland) and is active in the areas of Healthtech/AI, dermatology, gastroenterology and contract manufacturing & development.
Financials
Glenmark Pharma experienced a marginal growth in its revenue from operations, showing a year-on-year increase of around 7 percent from Rs. 3,207 crores in Q2 FY24 to Rs. 3,434 crores in Q2 FY25.
Similarly, its net profit increased during the same period from a loss of Rs. 68 crores to a profit of Rs. 354 crores.
About the company
Glenmark Pharmaceuticals Limited is primarily engaged in the business of development, manufacturing and marketing of pharmaceutical products.
The company’s research and development facilities are located at Mahape, Sinnar and Taloja and manufacturing facilities are located at Nasik, Colvale, Baddi, Nalagarh, Sikkim, Indore and Aurangabad in India.
Written by Shivani Singh
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