Glenmark Pharma Rises on New Drug Approval

Glenmark Pharmaceuticals Ltd. rose 2.35 percent to Rs 842.85 a piece as of 9:20 am, after it received the U.S. Food and Drug Administration’s approval to launch generic version of a skin treatment cream - Kenalog.

The company has been granted final approval by the FDA for Triamcinolone Acetonide Cream USP, 0.1 percent, Glenmark said in its press release. Kenalog Cream, manufactured by Delcor Asset Corp., had sales of $43.6 million in the 12-month period ending June 2016, according to IMS Health data cited by Glenmark.

Delcor is no longer marketing Kenalog Cream in the U.S.