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Glenmark Pharma up 1% on US FDA nod to drug's first phase

Glenmark Pharma up 1% on US FDA nod to drug's first phase

Wednesday, March 8, 2017, 12:36 PM

The US drug regulator cleared the company’s investigational new drug application to begin phase two study of GSP 304 that will be used to treat chronic obstructive pulmonary disease. Shares of Glenmark Pharmaceuticals rose nearly 1% intraday as investors cheered the US FDA’s clearance of drug in the first phase. Pharmaceutical major plans to initiate clinical development with a Phase 2 study.
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