• BSE
  • NSE
    • {{d.cmpname}}
    • {{d.price}}
    • ({{d.PerChg}}%)
Equity | News | Hot Pursuit
Hot Pursuit
Glenmark Pharma, Torrent Pharma rise after co-marketing pact for diabetes drug
(14:03, 11 Jul 2019)

The announcement was made before trading hours today, 11 July 2019.

Meanwhile, S&P BSE Sensex was up 229.40 points or 0.59% at 38,786.44.

Glenmark Pharmaceuticals and Torrent Pharmaceuticals have entered into a non‐exclusive sub‐licensing agreement to co‐market Sodium Glucose Co‐Transporter‐2 (SGLT2) inhibitor, Remogliflozin Etabonate (Remogliflozin) in India.

Under the terms of the agreement, Glenmark Pharmaceuticals will receive an upfront payment, license fees and royalties for The non‐exclusive sub‐license rights from Torrent Pharmaceuticals. Glenmark Pharmaceuticals will manufacture and supply Remogliflozin while Torrent Pharmaceuticals will market the drug under its own trademark 'Zucator' in India.

Remogliflozin is indicated in the treatment of Type 2 Diabetes Mellitus in adults.

On a consolidated basis, Glenmark Pharmaceuticals' net profit rose 6.6% to Rs 161.66 crore on a 12.4% rise in net sales to Rs 2,526.08 crore in Q4 March 2019 over Q4 March 2018.

Meanwhile, Torrent Pharmaceuticals' consolidated net profit fell 37.7% to Rs 142 crore on a 9.4% increase in net sales to Rs 1,822 crore in Q4 March 2019 over Q4 March 2018.

Glenmark Pharmaceuticals (GPL) is a research‐driven, global, integrated pharmaceutical organization.

Torrent Pharmaceuticals is involved in niche marketing in India and has a presence in diabetology, pain management, gynaecology, oncology and anti-infective segments.

Powered by Capital Market - Live News

DB (International) Stock Brokers Limited: SEBI Reg. No.-INZ000179035 / CDSL : IN-DP-CDSL-266-2004 MCX-SX:INE 260643233/21500(CD)
Daga Commodities Private Limited: SEBI Reg. No. INZ000028833
Investor Grievances Email ID: compliance@dbonline.in & investors@dbonline.in
Copyright © 2016 All rights Reserved DB (International) Stock Brokers Ltd.     Designed, Developed and content powered by C-MOTS Infotech( ISO 9001:2015 certified )
"KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary."         "Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from CDSL on the same day......................issued in the interest of investors."          "No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."
Attention Investors ::
subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries