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One of India’s largest pharmaceutical company, Glenmark Pharma, reported their net consolidated profit for the June-end quarter of the current fiscal year at Rs. 232.99 crores. The company net consolidated for the previous year same quarter was recorded at Rs.333.38 crores.
Glenmark Pharma stated in the BSE filings, that the total revenue from operation during the quarter under review stood at Rs. 2165.62 crores as against Rs. 2363 crores secured during the corresponding period of the previous year.
The company explained that the results are not comparable to the corresponding quarter of the last year, as Glenmark with the help of its partner Endo has launched Ezetimibe, a generic version of ZETIA in the US in December 2016 and was entitled to an exclusivity on the product.
The company also added that the business in India and Europe increased by 7.6% and 35.6% to Rs. 663.2 crores and Rs. 219.7 crores respectively. Similarly, the trade in Latin America witnessed a growth of 15.5% to Rs. 97.6 crores. Although the business in the USA dropped by 32.66% to Rs. 703.7 crores.
The company also said that they have the pipeline of seven new molecular entities (NMEs), which include four new biological entities (NBEs) and two new chemical entities (NCEs) and a biosimilar candidate, in various stages of clinical development.
