Moreover, the pahrma company on Monday announced that its Brazilian subsidiary, Glenmark Farmacêutica has entered into an exclusive partnership agreement with Novartis Biosciences S.A, a subsidiary of Novartis AG, for three respiratory products indicated towards treatment of the symptoms of chronic obstructive pulmonary disease (COPD) in Brazil. This agreement will be effective from July 01, 2019 onwards.
The products involved in the agreement are Seebri (Glycopyrronium bromide), Onbrize (Indacaterol) and Ultibro (combination of Indacaterol and Glycopyrronium), which are indicated for relief of symptoms in adults with COPD (Chronic Obstructive Pulmonary Disease).
In the past three months, the stock of Glenmark Pharma
has underperformed the market
by falling 27 per cent, as compared to a three per cent rise in the S&P BSE Sensex.
At 10:37 am, shares of the company were trading 6 per cent lower at Rs 471, against 0.15 per cent decline in the benchmark index. A combined 3.27 million shares changed hands on the counter on the BSE
and NSE, till the time of writing this report.