Drug firm Glenmark Pharmaceuticals USA today said it has got tentative approval from the United States Food and Drug Administration (USFDA) for Fingolimod capsules.
Pharmaceutical stocks have traditionally been considered defensive safe havens because demand for medicines doesn‘t depend on the economic cycle
In the medium term, the emphasis is on "continuing to grow base generics business" with the US, India and Europe to be main growth drivers, Glenmark said.
International Finance Corporation is looking to invest up to USD 75 million (around Rs 500 crore) in Glenmark Pharmaceuticals, which is planning to raise USD 200 million to reduce debt and expand operations
Glenmark Pharmaceuticals launched an offer on the Singapore Stock Exchange to raise up to USD 200 million (over Rs 1,340 crore) through issue of securities
"The US business remains a critical growth driver and our efforts will be to maximise our presence and earnings from this market," Glenmark Pharma Chairman & MD Glenn Saldanha told shareholders at the company's AGM here.
Prabhudas Lilladher has come out with its report on India Strategy & Top Ideas. According to the research firm, HDFC Bank, Infosys, State Bank of India, ICICI Bank, Larsen & Toubro, Maruti Suzuki, Tata Motors, Indian Oil Corporation, IndusInd Bank are the top picks from Large Cap space.
Teneligliptin, a new third generation oral anti-diabetic agent, is used for the management of Type 2 Diabetes Mellitus. Glenmark has launched this molecule under two brands, Ziten and Zita Plus, at Rs 19.90 per tablet.
Prabhudas Lilladher is bullish on Glenmark Pharmaceuticals and has recommended buy rating on the stock with a target price of Rs 1186, in its research report dated August 01, 2015.
The company said the approval marks Glenmark's 11th oral contraceptive authorised for distribution by the USFDA. It plans to commence shipping of tablets Levonorgestrel and Ethinyl Estradiol, 0.09 mg/0.02mg immediately, stated the filing.
For the 12 month period ending February 2015, the FemHRT market garnered annual sales of USD 38.6 million according to IMS Health, Glenmark added in the filing. Glenmark Generics is a subsidiary of Glenmark Pharmaceuticals and aims to be a global integrated generic and API leader.
The first meeting of the Foreign Investment Promotion Board this year, to be held on January 22, will see 36 FDI proposals being considered including those of Indian Energy Exchange, Viacom 18 Media, Glenmark Pharmaceuticals and Johnson & Johnson.
The complaint has been filed against Glenmark trying to commercialise the product before the expiry of patent which is a generic version of leukaemia treatment drug Treanda
The cream which is used to treat skin diseases like eczema, dematitis and allergies, has annual US sales of USD 34 million, according to IMS Health sales data for the 12 months period ending June 2013.
Futures and options contracts on the companies' shares would be available from October 3 onwards, NSE said in a circular on Friday.
Glenmark expects an additional payment to support the advancement of the programme. Forest has an exclusive option to obtain license rights to the program upon the completion of pre-clinical trials.
Glenmark's Acamprosate Calcium delayed release tablets are a generic version of Forest Labs' Campral. The drug had sales of USD 21 million for 12-months ended March 2013, according to IMS Health data.
Drug firm Glenmark Pharmaceuticals today reported a 64.39 per cent rise in its consolidated net profit at Rs 128.67 crore for the first quarter ended June 30, 2013 mainly on account of robust sales.
The company's subsidiary Glenmark Generics had filed the abbreviated new drug applications (ANDAs) for Lacosamide tablets and oral solution with US Food and Drug Administration (USFDA) with a Paragraph IV certification.
Brokerage house Firstcall Research is bullish on Glenmark Pharmaceuticals and has recommended buy rating on the stock with a target price of Rs 602 in its June 21, 2013 research report.
Brokerage house FinQuest Securities has maintained its 'Hold' rating on Glenmark Pharmaceuticals with a price target Rs 536, in its May 13, 2013 research report. The stock is fairly valued at the current price and there is limited room for further upside. Expect the revenue to grow at 15% CAGR during FY13-16, said the research report.
PN Vijay, Portfolio Manager, www.askpnvijay.com feels improvement seen in India's macros has to be backed by good earnings from corporate India for the Nifty to breach above 6,000 levels.
US pharmaceutical major Merck Sharp and Dohme (MSD) has filed an appeal before the Delhi High Court challenging its single bench order refusing to grant interim relief to it on a patent row against Indian firm Glenmark Pharmaceuticals.
The Delhi High Court today refused to grant interim relief on a patent row to US pharmaceuticals major Merck Sharp and Dohme (MSD) which sought a restraint on Indian firm Glenmark Pharmaceuticals on manufacturing and marketing anti-diabetes drugs Zita and Zita-Met.
FinQuest Securities has recommended hold rating on Glenmark Pharmaceuticals with a target price of Rs 536, in its January 31, 2013 research report.