Glenmark Pharmaceuticals shares closed 4.31% higher at ₹1,632.15 each on the BSE in the backdrop of a subsidiary launching Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1% (OTC) in the U.S.
The shares touched a new, 52-week high of ₹1,639.15 apiece intra-day. An antihistamine and redness reliever, the product is comparable to active ingredient in Pataday Twice Daily Relief.
According to Nielsen syndicated data for the latest 52 weeks’ period ended July 13, 2024, the Pataday Twice Daily Relief (OTC) market achieved annual sales of around $26.4 million, the company said in a release on Glenmark Therapeutics Inc., USA launching the generic product.
The product will address the “growing demand for a new supplier in this category. This addition highlights our commitment to meeting market needs and providing high-quality over- the-counter solutions for our customers,” Head – OTC Sales and Marketing of Glenmark Pharmaceuticals Inc. Fabio Moreno said.
