India, March 19 -- Glenmark Pharmaceuticals has made its presence in the US stronger by launching two important products in the pain and allergy markets. The company has launched Milnacipran Hydrochloride tablets and gotten approval for Fluticasone Propionate nasal spray. Together, these products target a $480 million market opportunity.

With a market cap of Rs 59,100 crore, the shares of Glenmark Pharmaceuticals Ltd are trading at Rs 2,095 and are trading at a PE of 22 compared to their industry PE of 27.7. The shares have given a return of more than 360% in the last 5 years.

These launches show that Glenmark wants to grow in both prescription generics and over-the-counter (OTC) products. The company wants to build a more diverse and s...