GlaxoSmithkline Pharmaceuticals slipped 0.27% to Rs 1,421.50, extending decline for the seventh day.
The stock has corrected 7.95% in seven sessions from its recent closing high of Rs 1,544.20 recorded on 5 March 2021.
In the past one year, the stock has risen 14.22% while the benchmark Sensex surged 64.83% during the same period.
On the technical front, the stock s RSI (relative strength index) stood at 38.410. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading below its 50-day, 100-day and 200-day daily simple moving average (SMA) placed at 1487.43, 1501.06 and 1509.85, respectively.
Glaxosmithkline (GSK) Pharmaceuticals is a subsidiary of GlaxoSmithKline plc, one of the world s leading research-based pharmaceutical and healthcare companies.
Zimbabwe on Tuesday received a second batch of Sinopharm doses donated by China plus an additional Sinovac doses commercially procured by the government. A chartered Air Zimbabwe plane landed at Robert Gabriel Mugabe International Airport on Tuesday morning with the consignment of the vaccines, which was received by Zimbabwean President Emmerson Mnangagwa, his deputy Constantino Chiwenga, who is also the health minister, the Chinese ambassador to Zimbabwe Guo Shaochun and other senior government officials, the Xinhua news agency reported. The same plane also ferried another batch of vaccines for the government of Namibia, where they will be used to kick off the country s vaccination program.
Read more about US Dow, S&P 500 hits record high on Business Standard. At the close of trade, the Dow Jones Industrial Average index advanced 174.82 points, or 0.53%, to 32,953.46. The S&P500 index added 25.60 points, or 0.65%, to 3,968.94. The tech-heavy Nasdaq Composite Index added 139.84 points, or 1.05%, to
Gland Pharma rose 6.46% to Rs 2706.10 after the company entered into an agreement to supply upto 252 million doses of RDIF s Sputnik-V COVID-19 vaccine. This is the first of multiple partnerships being explored by Gland Pharma to leverage its manufacturing capacity and capabilities to support global supply of COVID-19 vaccine, the company said in a BSE filing made during market hours today.
The company will be leveraging its manufacturing capabilities for the production of Sputnik V COVID-19 vaccine.
Gland Pharma will utilise its Drug Substance and Drug Product facilities at its sites in Hyderabad. The production is expected to commence from third quarter of 2021 for estimated delivery starting from fourth quarter of 2021.
The product will be manufactured at the company s facility at Bengaluru and will be marketed by Strides Pharma Inc. in the US market.Strides Pharma Science (Strides) on Monday (15 March) announced that its step-down wholly owned subsidiary, Strides Pharma Global, Singapore, has received approval for potassium chloride for oral solution USP, 20 mEq from the United States Food & Drug Administration (USFDA).
The product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Potassium Chloride for Oral Solution USP, 20 mEq, of Pharma Research Software Solution.
According to IQVIA MAT January 2021 data, the US market for Potassium Chloride for Oral Solution USP, 20 mEq is approximately $56 million.