After rallying 27 per cent in the previous session, the scrip traded 5.24 per cent lower at Rs 492 at around 10 am (IST). On the other hand, the benchmark BSE Sensex was up 0.19 per cent at 34977 at around the same time.
Earlier, Glenmark Pharmaceuticals on Monday scaled its fresh 52-week high of Rs 572.70 after the company said it has launched antiviral drug Favipiravir, under the brand name FabiFlu, for the treatment of patients with mild to moderate Covid-19.
The company on Saturday said it has launched antiviral drug FabiFlu for the treatment of patients with mild to moderate Covid-19 at a price of about Rs 103 per tablet.
The drug will be available as a 200 mg tablet at a maximum retail price of Rs 3,500 for a strip of 34 tablets, Glenmark Pharmaceuticals said.
FabiFlu is the first oral favipiravir-approved medication in India for the treatment of Covid-19, it said in a statement.
The Mumbai-based firm had on Friday received the manufacturing and marketing approval from the Drugs Controller General of India.
Source: ET Markets