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Glenmark Pharma: Recent approvals to help scale up FY18 growth

Upfront payments from out licensing deals could be the other trigger

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Photo: Reuters

Ram Prasad Sahu
Glenmark Pharmaceuticals has gained about 7 per cent since its lows this month on brokerage upgrades, which highlight the upside from US product launches and potential of out licensing deals. Prior to the recent upgrades, the stock was under pressure, given price erosion estimates to the tune of 10-15 per cent in FY18 and falling contribution from generic version of Zetia, a drug used in bringing down cholesterol levels.

The six-month sales under exclusivity for this drug came to an end in the June quarter and generated about $175 million in