R&D spend will continue to be around 12% of revenue, says Glenmark CMD

A bigger chunk of our R&D investment is towards our innovative and specialty pipeline, said CMD

Even after posting a good set of numbers in the September quarter, analysts have largely remained cautious about Glenmark, given its high debt levels and the pricing pressure in the US. In an emailed interview with Business Standard, Glenn Saldanha, chairman and managing director of Glenmark, said he is not concerned about debt levels as the company was generating cash at an operating level. The high spend on research and development (R&D) has been a reason behind Glenmark’s debt. Saldanha said the R&D spend would remain stable at 12 per cent of revenue next year. Excerpts:

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