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Shares of Glenmark Pharma slump 7% on profit booking
₹487.05, down 6.30% from its previous close, while the benchmark index, Sensex rose 0.96% to 35,246.24.Shares of Glenmark Pharma had surged 32.18% to ₹519.80 in four sessions till Monday, from its recent closing low of ₹393.25.On Monday, the stock had jumped 27.06% in a single trading session as the company announced the launch of antiviral drug Favipiravir, under the brand name FabiFlu. Priced at ₹103 per tablet, the prescription-based drug will be available at a maximum retail price (MRP) of ₹3,500 for a strip of 34 tablets.Glenmark said Favipiravir is also undergoing trials in other countries to test its efficacy as a drug to cure covid-19.