 "Glenmark office")
Glenmark Pharmaceuticals’ June quarter performance, announced last week, was in stark contrast to that of larger peers such as Lupin and Dr Reddy’s. Analysts expect the trend to continue and the Glenmark stock to deliver decent returns among pharma companies.
The company’s domestic sales (contributing a fourth to sales) grew 15 per cent year-on-year in contrast to Dr Reddy’s and Lupin’s decline of 10 and 1.8 per cent, respectively, during the quarter. While the company had offered discounts to distributors to maintain growth momentum in the June quarter, its niche product range also helped.
Glenmark’s US revenues (contributing 44 per cent to
