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Glenmark Shares Slump 5 Per Cent On Credit Suisse Downgrade


Shares in Glenmark Pharmaceuticals Ltd (GPL) fell 5 per cent after foreign brokerage Credit Suisse downgraded the stock. Shares of the company were last trading at Rs 946 on the National Stock Exchange.

Check share price and financials of Glenmark Pharma

Glenmark Shares Slump 5 Per Cent On Credit Suisse Downgrade
Glenmark Pharmaceuticals: Quotes, News
BSE 288.60BSE Quote2.75 (0.95%)
NSE 288.55NSE Quote2.65 (0.92%)
Credit Suisse downgraded the stock to "underperform" from "neutral" saying the shares are already pricing a best case scenario.

Glenmark is among the top pharma companies in the country. Recently, the company received final approval from the US health regulator for the generic Calcipotriene cream used for the treatment of plaque psoriasis.

However, like most pharma companies the shares have run up too fast and many pharma companies have also been grappling with US FDA worries.

Glenmark has several molecules in various stages of clinical development and is primarily focused in the areas of Inflammation (asthma/COPD, rheumatoid arthritis etc.) and Pain (neuropathic pain and inflammatory pain).

The company has a significant presence in branded generics markets across emerging economies including India. GPL along with its subsidiary has 14 manufacturing facilities in four countries and has six R&D centers.

Read more about: glenmark us fda credit suisse
Story first published: Wednesday, July 29, 2015, 10:53 [IST]
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