The Board of Directors of Glenmark Pharmaceuticals (GLP), a Rs 375-crore plus company engaged in therapeutic groups of dermatology and respiratory, has announced liberal bonus share issue in the ratio of 1:1.

GLP has captured higher market share with its brands like Candid B and Ascoril. Recently, it entered into collaboration deal with Forest Laboratories, USA for development and commercialization o its lead molecule GRC 3886 for the indications of Asthma and COPD. This product is a highly potent, specific PDE4 inhibitor and is currently completing Phase I clinical trials with a global CRO in the UK.

Glenn Saldanha, managing director and CEO said, "The bonus issue is to share the benefits of the robust growth and performance of the company with the shareholders."