Glenmark’s Glenn Saldanha seeks a new holy grail as generic drugs run dry

Glenmark’s Glenn Saldanha seeks a new holy grail as generic drugs run dry Generics industry will see patent expirations drop after 2018 Firms try innovation, deals as competitive pressures rise Sixteen years ago, Glenn Saldanha took over his father’s business making copycat versions of novel medicines and added a side bet of his own: Instead of just imitating old drugs, his family firm would try to innovate completely new ones too. Investors complained, competitors were mystified and Saldanha’s father was skeptical. Nevertheless, Saldanha pressed ahead in the painstaking trial and error process of new drug discovery. Now he says his Read More


Glenmark posts Rs 184 crore net profit in Q4; earnings below analyst estimates

Glenmark posts Rs 184 crore net profit in Q4; earnings below analyst estimates The profits were impacted due to an Rs 81 crore exceptional item, high expenses and decline in sales across Europe, Latin America, and other markets. The expenses shot up 13.6 percent to Rs 2152 crore on sequential basis. Glenmark Pharmaceuticals on Thursday posted a 23 percent increase in net profit for the fourth quarter of FY17. This uptick was largely aided by the exclusivity of generic cholesterol lowering drug Zetia, though overall the earnings were much below street estimates. On a year-on-year basis, Glenmark’s net profit rose Read More


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