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Glenmark awaiting fresh triggers

Large product approvals, deals can drive growth, help pare debt

Ujjval Jauhari 

Pharma firm Glenmark’s share price hit a three-year low at Rs 567.95 on Tuesday, before closing 1.8 per cent higher at Rs 581.65 on the BSE. The scrip is down 40 per cent in the past four months. While pricing pressure in the US, the world’s largest health care market, weighs on domestic pharmaceutical firms, for Glenmark, high debt is adding to its worries. “The higher-than-expected net debt in its annual report has surprised and a further increase in debt in the September quarter remains a near-term overhang,” said an analyst at Credit ...

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First Published: Tue, September 12 2017. 23:21 IST
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