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 (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