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Glenmark Pharmaceuticals (BSE Code : 532296) : Glenmark Generics Inc, a US-based subsidiary of the company has received Abbreviated New Drug Application (ANDA) approval from US Food and Drug Administration (USFDA) for Clotrimazole cream USP 1 per cent.The company will commence marketing and distribution of this product in the US market immediately. According to research firm IMS Health, Clotrimazole cream has achieved annual sales of $ 26 million in US for the fiscal ended March this year.Glenmark’s current portfolio consists of 59 products which have been cleared by USFDA for US market. The company has further 50 ANDA’s pending approval with the US health regulator.Glenmark is one of the few pharma stocks which is Funds’ favourite. It is very attractive at this level. Buy immediately.