Glenmark Pharma reports positive results from a phase 3 trial of GSP 301, a fixed-dose combination nasal spray.
The US business that constitutes close to half of Glenmark‘s business doubled to Rs.1230.8 crore led by new launches including generic version of Zetia - that has 180-day exclusivity.
Analysts predict Q3 to be a tough quarter with revenue growth moderating to 11.7 percent in October-December period compared to 18.4 percent compounded annual growth rate (CAGR) over last 10 years
The company has a strong pipeline of products which the company, CMD Glenn Saldanha said adding that new launches will drive earnings for the company in FY18 and FY19. The company has no plans to raise further capital, he said.
The company is aiming for at least one outlicensing deal in the next year and Saldanha also feels pharma giant will grow at a 15-20 percent CAGR over the next five years.
Glenmark Pharmaceuticals Inc has announced the availability of ezetimibe, the first and only generic version of Merck's Zetia in the United States.
Glenmark was the first to file for the generic version of Zetia and it means that after the launch on December 12, only Glenmark and Merck will sell generic Zetia in the US market for the next 6 months.
Good cash flows from the launch of cholesterol-lowering drug Zetia in December could help Glenmark Pharma trim its debt significantly by the end of the year says Pharma Analyst Surajit Pal of Prabhudas Lilladher. Glenmark will enjoy 134 days of exclusivity from the launch of the drug.
In an interview with CNBC-TV18, he said that Yes Bank and IndusInd Bank are his top picks in the banking space and advised to buy Yes Bank on dips.
The company is expecting strong growth in the current fiscal both from India and US. Major approvals are expected to drive growth for Glenmark, says Chairman and Managing Director Glenn Saldanha.
Macquarie that has outperform rating with a target price of Rs 1,140 on the stock, says GBR 1302 data in 2HFY17 will help validate BEAT platform and pave the way for a potential out-licensing deal in next 12 to 18 months.
Glenmark has sole exclusivity for 180 days but it can not launch the drug in US market now as it has out of court settlement with Merck. It had settled patent litigation case with Merck for its cholesterol lowering drug Ezetimibe in May 2010.