Mumbai-based Glenmark Pharma has received the US Food and Drug Administration's (USFDA) nod for Pimecrolimus Cream, which is used to treat atopic dermatitis.
The market size of Pimecrolimus Cream is around $200 million and it is expected to be a limited competition drug for Glenmark as there are only two players currently.
Glenmark is expected to make around $20-30 million from Pimecrolimus Cream.
The company, during its conference call, had said that it is going to receive around two opportunities in the US, one of which is this. Therefore, this should bode well for the company considering the pressure the stock has witnessed.