Mumbai, May 16 (PTI) Glenmark Pharmaceuticals spurted by over 19 per cent in morning trade on the bourses today after the company's unit entered into an outlicensing agreement with Sanofi for development and commercialisation of an anti-body used for the treatment of Crohn's disease.
Cheering the move, the stock shot up by 19.54 per cent to touch a one-month high of Rs 327.80 on the Bombay Stock Exchange (BSE). Later, the scrip was trading at Rs 309.75, up 12.96 per cent.
Investors flocked the company's counter on the National Stock Exchange as well, where the scrip zoomed up by 19.59 per cent to touch an early peak of Rs 327.80. Later, the shares were quoting at Rs 309.50, up 12.91 per cent.
On the volume front, over 53 lakh shares of the company were traded on the bourses withing the first few minutes of trade.