/ Glenmark Pharma Receives USFDA Clearance, Stock Remains Flat ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Wednesday, 8 March 2017

Glenmark Pharmaceuticals, a global pharmaceutical company, on Wednesday announced that the US Food and Drug Administration (USFDA) cleared the company’s Investigational New Drug (IND) application to begin a phase-2 study of GSP 304 (tiotropium bromide).

In its filing with the bourses, Glenmark claimed that it plans to initiate phase-2 clinical study in patients with Chronic Obstructive Pulmonary Disease.

“Respiratory is a core area of focus for Glenmark as we continue to harness our heritage in generics and evolve into a specialty, innovation-focused company,” said Fred Grossman D.O., President and Chief Medical Officer at Glenmark Pharmaceuticals Inc.

In his statement to media, he also said, "Moving GSP 304 into phase 2 is a great example of that focus and if approved, will be the first nebulised form of tiotropium bromide.

This milestone further affirms our goal of providing new treatment options that meet significant unmet medical needs.”

Glenmark Pharma is trading flat with a positive bias on Wednesday even as pharma stocks gain on the bourses. BSE healthcare index is up by nearly 0.5% seen outperforming the major indices.

BSE Sensex is marginally down by nearly 30points at 28970 while Nifty is down marginally by 4 points   at 8943 levels.

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