Elara Capital which has reduce rating on stock said FY19 operating performance remained weak, given lack of meaningful US sales.
The US health regulator had inspected Goa plant during March 7-15 and issued 5 observations.
Glenmark reported Rs 2514 crore revenues from India in FY 18 against Rs 2303 crore in the previous year growth of 10 percent.
"Russia is an important market for us and we are consistently looking to expand product offerings. We believe OTC is an interesting space and this approval for Momate Rhino nasal spray will help enhance our presence in this segment," Glenmark Pharmaceuticals Senior Vice President and Head Asia, Russia & CIS region Csaba Kantor said.
Glenmark's Goa plant, which was last inspected in December 2016, contributes to 20-25 percent to total US volumes.
US generic business gained 16.28 percent to Rs 855.7 crore in the December quarter YoY while sales for the formulation business in India rose 15.39 percent to Rs 667.5 crore YoY.
Nifty futures on Singaporean exchange are trading lower, mirroring the subdued sentiment as Wall Street witnessed selling pressure. This weighed on other Asian indices as well. The futures were trading at 10,970, a fall of 23 points on SGX Nifty.
At this juncture, we are seeing a mild bearish divergence on the daily chart and the impact of such development was seen during Thursday’s trade as Nifty opened lower with a decent gap
Technically, the momentum is strongly favouring the bulls and traders are advised to buy a fresh breakout above 10990 kind of levels.
During the period under review, consolidated revenue was at Rs 2,581.33 crore against Rs 2,256.59 crore in the year-ago period.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 31 points or 0.29 percent. Nifty futures were trading around 10,591-level on the Singaporean Exchange.
Net Sales are expected to increase by 10.3 percent Y-o-Y (up 15.2 percent Q-o-Q) to Rs. 2,450 crore, according to HDFC Securities.
The health regulator had begun its inspection of Glenmark Pharma's facility on September 17.
Glenmark Pharmaceuticals Executive Vice President and Business Head of Europe and Latin America, Achin Gupta, said that upon launch, generic Fluticasone/Salmeterol DPI will be Glenmark's first inhalation product available in Germany.
Glenmark Pharmaceuticals EVP & Business Head of Europe and Latin America Achin Gupta said, respiratory is a core area of focus for Glenmark and this deal shows our commitment to increase product offerings within this segment.
Akash Jain of Ajcon Global said after the massive destruction in midcaps and smallcaps, one can consider companies in midcaps and smallcaps space wherein FY18 earnings have been strong in sunrise sectors backed by ethical management.
Glenmark said it will receive an upfront payment as well as regulatory and commercial milestone payments from Seqirus.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 34.5 points or 0.32 percent. Nifty futures were trading around 10,698-level on the Singaporean Exchange.
"The company has submitted a new drug application (NDA) to the US Food & Drug Administration (USFDA) for... respiratory pipeline candidate Ryaltris, an investigational fixed-dose combination nasal spray of an antihistamine and a steroid," Glenmark Pharmaceuticals said in a BSE filing.