Glenn Saldanha, MD & CEO, Glenmark said the pharma major is growth at the rate of 30% in the Indian market and is confident of maintaining margins ahead.
It is a setback for Indian pharma major Glenmark. The US based Napo Pharma has terminated their mutual contract for Crofelemer, a diarrhoeal drug with huge opportunity in emerging markets.
Glenmark Pharmaceuticals today said it has received USD 15 million (over Rs 65 crore) from Salix Pharmaceuticals Inc, USA, as an advance payment to upgrade its plant for production of Crofelemer, used for treating diarrhoea.