Glenmark Pharmaceuticals (Glenmark), a manufacturer of generic formulation products and API,  has received final approval by the United States Food & Drug Administration (U.S. FDA) for Clindamycin Phosphate Foam, 1%, the generic version of Evoclin Foam, 1%, of Mylan Pharmaceuticals Inc.

According to IQVIA sales data for the 12-month period ending July 2021, the Evoclin Foam, 1%, market achieved annual sales of approximately USD 12 million.

Glenmark's current portfolio consists of 173 products authorized for distribution in the U.S. marketplace and 47 ANDA’s pending approval with the U.S. FDA. In addition to these internal filings, Glenmark continues to identify and explore external development partnerships to supplement and accelerate the growth of its existing pipeline and portfolio.

Shares of the company gained Rs 5.90, or 1.19%, to trade at  Rs 500.80.  The total volume of shares traded  was  137,181 at the BSE (12.05 p.m., Tuesday).