GLENMARK PHARMACEUTICALS LTD
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BSE Code:
532296
NSE Code:
GLENMARK
Business Profile
Business Profile
Glenmark Pharmaceuticals (GPL) is engaged in the research and development, manufacturing and marketing of branded formulations in India and abroad. The company is headquartered at Mumbai and was incorporated in the year 1977 by Gracias Saldanha. Its business segments include India API, exports formulations and API NCE research. The Company is present in over 80 countries across the globe, with some of its subsidiaries and representative offices in the United States, the United Kingdom, Switzerland, Brazil, South Africa, Nigeria, Russia, Philippines and Malaysia. It has been involved in new drug discoveries such as new molecules for asthma, obesity and diabetes segments. Glenmark has been involved in API business. The company conducts its operations through its manufacturing plants including Baddi, Goa, Nasik and Sao Paulo, Brazil for formulations and Ankleshwar, Kurkumbh and Solapur for API.
Glenmark Pharmaceuticals` research activities encompass process engineering for APIs, new chemical entity research and novel drug delivery systems [NDDS]. The company also operates a second research facility at Sinnar, India that focuses on developing formulations for India and markets across Asia, Africa, Latin America and CIS/Russia. The company is further researching PDE-4 inhibitors for CNS indications, cognitive disorders and inflammatory conditions such as atopic dermatitis, ulcerative colitis and rheumatoid arthritis. Other research areas include diabetes segment in which the company has a DPP-IV target, GRC 8200, in Phase I clinical trials. For the last five years, the company has increased its growth through investment in dedicated research and development, including cutting-edge New Chemical Technology (NCE) research. The company currently ranks among the top 20 Indian pharmaceutical firms.
Financials
The company reported a substantial drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 74.79% to Rs 369.20 million from Rs 1,464.27 million in the same quarter last year. Net sales declined 43.65% to Rs 2,443 million, while total income for the quarter fell 41.80% to Rs 2,536.73 million, when compared with the prior year period. It reported earnings of Rs 1.47 a share during the quarter, registering 75.38% decline over previous year period.
Recent Developments
27-APR-09
The company Glenmark Generics has received tentative approval from US Food and Drug Administration (USFDA) for cholesterol-lowering agent Ezetimibe.
24-FEB-09
Glenmark Generics (GGL), a subsidiary of Glenmark Pharmaceuticals, received final approval from the US Food and Drug Administration (USFDA) to market Lamotrigine tablet, in the strengths of 5 mg and 25 mg.
23-FEB-09
Glenmark Generics (GGL), a subsidiary of the company received final approval from the US Food and Drug Administration (USFDA) to market Lamotrigine tablet, in the strengths of 5 mg and 25 mg.
04-FEB-09
The company announced that its US arm has received abbreviated new drug application (ANDA) approval from United States Food and Drug Administration for Lithium Carbonate Capsules in the strengths of 150mg, 300 mg and 600 mg respectively.