Glenmark Pharma up over 9%

Glenmark Pharma is in the news today. The stock, which had closed at Rs.318.10 yesterday, opened higher today at Rs.322.40 and went on to hit an intraday high at Rs.346.50. Its 10% UC for the day is at Rs.349.90.

Times of India has broken this news that the company has filed for a marketing authorisation with the Drug Controller General of India (DGCI) for a Coronavirus drug.

Taking this further, BloombergQuint said that the company’s ARV drug Favipiravir has shown promise and it is hopeful of getting good results in clinical trials.

There is no official word from the company on this new development.