Out-licensing novel molecules key to Glenmark's debt reduction plan

The partner is likely to have the rights for the drug in the US, the EU and Japan markets and help with the approvals from the regulators in these countries

Sealing an out-licensing deal for its innovative molecule (GBR-830) for atopic dermatitis is crucial for Glenmark Pharmaceuticals to bring down its net debt of Rs 34.04 billion as the company’s research and development (R&D) spend is set to rise from an 8 per cent of turnover in the last financial year to 12 per cent this year.

“Our net debt came down by Rs 2.63 billion in FY18, which was in line with our guidance of reducing the debt by Rs 2.5-3 billon. We are generating free cash at the core operating level and are committed to further reducing debt. We