Business Standard

Higher sales in domestic market, lower costs bode well for Glenmark

The other trigger for the stock is the cost savings from lower investments in R&D and fund raising for innovation research

Glenmark Pharmaceuticals
Premium

Glenmark Pharmaceuticals

Ram Prasad Sahu New Delhi
Glenmark Pharmaceuticals (Glenmark) reported the best sales performance among Indian companies in the domestic pharmaceutical (pharma) market for August. Sales were up 32 per cent for the month on the back of higher sales of Covid treatment drug favipiravir. The drug was the sixth largest molecule in the pharma market in August and is used in treating mild-to-moderate symptoms of Covid-19.  

Being the first off the blocks, the company is a major beneficiary of higher sales in the product, with 84 per cent market share. The drug helped push Glenmark’s anti-infective sales nearly two times in August, compared to the year-ago

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 21 2020 | 6:10 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com