Glenmark expects up to 14 % growth in India revenues in FY20

Drug major Glenmark Pharma expects 12 to 14 per cent growth in its India revenues during the current fiscal, a top company official said here Thursday.

"We have historically grown at a rate which is faster than the market growth rate.

Historical the growth is about 12 to 14 per cent annually. That is the kind of growth trajectory we hope will be able to sustain ( in FY 20 also). we should be in the similar range," Sujesh Vasudevan, president, India Formulations, Middle East and Africa, at Glenmark Pharmaceuticals told reporters.

Glenmark reported Rs 2514 crore revenues from India in FY 18 against Rs 2303 crore in the previous year growth of 10 per cent.

During the first nine months of the FY19, the drug maker reported Rs 2109 crore.

Glenmark Thursday patent protected and globally-researched sodium glucose co-transporter (SGLT2) inhibitor Remogliflozin etabonate (Remogliflozin) in India.

The drug is indicated in the treatment of type-2 diabetes mellitus in adults.

The drug was launched under brand names "Remo" and "Remozen."