Glenmark Pharmaceuticals (Glenmark), a manufacturer of generic formulation products and API, witnessed a rise in share price on Monday after it has been granted final approval by the United States Food & Drug Administration (US FDA) for the extended-cycle oral contraceptive, Levonorgestrel, Ethinyl Estradiol Tablets USP, 0.15 mg/ 0.03 mg, the AB rated generic version of Seasonale® by Teva Women's Health.
Seasonale is indicated for prevention of pregnancy in women who elect to use oral contraceptives as a method of contraception. According to IMS Health sales data for the 12 month period ending April 2015, the Seasonale® market achieved sales of approximately USD 53.7 million.
Shares of the company are trading at Rs 892.50, up Rs 12.5, or 1.42% at the Bombay Stock Exchange (BSE) on Monday at 11:10 a.m.