Glenmark Pharma at new high, up 4% on foray into
oncology
GBR
1302 was discovered and developed by Glenmark Biologics Research Centre located
in La Chaux-de-Fonds, Switzerland and would be first molecule to could become a
patented molecule or drug for the company once it goes through multiple stages
of research and development.
Shares of Glenmark Pharma touched record high at Rs 749.05 per share,
up over 4 percent intraday on Wednesday as it forays into oncology with
discovery and initiation of an innovative bispecific antibody, GBR 1302
molecule. “GBR 1302 is the first clinical development candidate based on the
BEAT technology. The company expects to obtain approval for the initiation of
clinical studies during this fiscal,” it said in a press statement to the
exchanges. GBR 1302 was discovered and developed by Glenmark Biologics Research
Centre located in La Chaux-de-Fonds, Switzerland and would be first molecule to
become a patented molecule or drug for the company once it goes through
multiple stages of research and development. The GBR 1302 molecule will focus
on treatment of breast cancer better than Herceptin, which could target only
25-30 percent of the market.
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