Glenmark Pharmaceuticals receives $25 million upfront payment for GBR 500

Glenmark Pharmaceuticals Ltd had earlier signed the GBR 500 deal in May'11 with Sanofi, which has received clearance from the Hart-Scott-Rodino Antitrust Improvements Act, USA. Following that clearance, the deal has now become effective and Glenmark has also received the first upfront payment of USD 25 million.

The stock was trading at Rs.316, up by Rs.3.55 or 1.14%. The stock hit an intraday high of Rs.322 and low of Rs.311.40.

The total traded quantity was 0.73 lakhs compared to 2 week average of 0.74 lakhs.

Source : Equity Bulls

Keywords