Glenmark Pharma posted stable quarter with a slowdown seen in their Indian business. In an interview to CNBC-TV18, Glenn Saldanha, CMD of Glenmark spoke about the results and his outlook for the company.
Saldanha said we will see a sequential growth in US business. Pricing pressure will continue but won't affect growth due to new launches, he added.
On Welchol drug, he said there is no visibility on the drug as of now but hope for the approval soon.
Talking about numbers, he said core business should generate Rs 300 crore which will be used to pare down debt.
He further said that will see goods and services tax (GST) impact on the topline of about 3 percent for the next couple of quarters.
Will keep research and development (R&D) expenses in the range of 12-13 percent, he said.
On M&A side, we are not looking at merger and acquisition (M&A) as growth opportunity. We would like to grow organically.
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