Page 6 - Glenmark Pharmaceuticals

Glenmark gets USFDA nod to market generic version of Otezla tablets

Glenmark's current portfolio includes a total of 188 products that have been authorised for distribution in the US marketplace

Ichnos Sciences, Astria Therapeutics sign licensing deal for OX40 portfolio

Ichnos is set to receive $320 million upfront for development, regulatory and sales payments, coupled with low double-digit royalties

Glenmark Pharma soars 10% after S&P Global upgrades outlook to positive

The rating agency expects Glenmark to significantly reduce debt on completion of the GLS sale and maintain healthy earnings.

Glenmark, Cosmo partner to bring acne treatment Winlevi to Europe, S Africa

This agreement grants Glenmark the exclusive right to commercialise Winlevi in 15 EU countries, South Africa, and the UK

Glenmark announces license agreements for Winlevi in Europe and S Africa

Cassiopea, a subsidiary of Cosmo, will receive an upfront payment of $5 million and agreed double-digit royalties on net sales

Glenmark Pharma's life sciences arm deal may hit FY25 revenue estimates

But it will have additional cash to recalibrate its innovative pipeline

Glenmark Pharma slips 5% on inking deal to sell 75% stake GLS to Nirma

The company announced that it will sell 75 per cent stake in Glenmark Life Sciences (GLS) to Nirma for Rs 5,652 crore at Rs 615 per share.

Glenmark Pharma to sell 75% stake in GLS to Nirma for Rs 5,651 crore

Deal size estimated to be Rs 5,651 crore, valuing API arm at Rs 7,535 crore

Glenmark eyes double-digit revenue growth; to focus on debt reduction

Glenmark Pharmaceuticals aims to grow its revenues by 10-11 per cent with a focus on free cash generation to reduce debt in the current financial year, according to Chairman and Managing Director Glenn Saldanha. The Mumbai-based drug major is also looking at enhancing EBITDA margins while expanding presence in various therapeutic segments like oncology and dermatology. "For the new financial year, we aim to grow by 10-11 per cent in revenues, expand our EBITDA margin to 19-20 per cent, and continue to focus on enhancing free cash generation for further debt reduction," Saldanha said in the company's Annual Report for FY23. In FY23, the company's consolidated revenue from operations stood at Rs 12,990 crore, up from Rs 12,305 crore in FY22. Besides, the drug maker reported an EBITDA of Rs 2,278 crore during the 2022-23 fiscal with margins at 17.5 per cent. Glenmark reported net debt of Rs 2,905 crore for the fiscal ended March 31, 2023. Addressing the company's shareholders, he not

Glenmark recalls 1,200 bottles of generic hypertension drug in US

Glenmark Pharmaceuticals is recalling 1,200 bottles of a generic drug, used to treat high blood pressure, in the American market due to a manufacturing issue, according to the US Food and Drug Administration (USFDA). The New Jersey-based arm of the drug firm is recalling 1,200 bottles of Trandolapril and Verapamil Hydrochloride extended-release tablets, as per the latest Enforcement Report of the US health regulator. The affected lot has been manufactured at the Goa plant of the Mumbai-based drug firm and then supplied to Glenmark Pharmaceuticals Inc, USA, the USFDA said. The firm is recalling the affected bottles due to it being "Subpotent", it noted. Glenmark Pharmaceuticals Inc initiated the nationwide (US) Class III recall on August 14 this year, it added. As per the USFDA, a Class III recall is initiated in a "situation in which use of, or exposure to, a violative product is not likely to cause adverse health consequences".

Glenmark Pharma, Teva settle drug pricing cases with US Dept of Justice

Teva will make a $50 million drug donation to humanitarian organizations that help Americans in need

Glenmark Pharma settles drug pricing case with US Department of Justice

Drug firm Glenmark Pharmaceuticals said it has entered into a pact with the US Department of Justice, Antitrust Division (DOJ) to resolve court proceedings related to the pricing of a drug. US-based Glenmark Pharmaceuticals Inc, a subsidiary of the company, has entered into a three-year deferred prosecution agreement with DOJ involving historical pricing practices by former employees relating to the generic drug pravastatin between 2013 and 2015, the Mumbai-based drug maker said in a regulatory filing. If the company adheres to the terms of the agreement, including the payment of USD 30 million, payable in six installments, the DOJ will dismiss the pending Superseding Indictment, it added. "Glenmark is committed to being a socially and ethically responsible company. We have devoted considerable resources to strengthen our compliance practices, ensuring the highest ethical operating standards. We will continue to conduct our business with the utmost transparency and integrity," ...

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Stocks to watch on August 22, 2023: As per reports, about 30 per cent equity worth Rs 541.5 crore will change hands via a block deal in SJS Enterprises today

Cipla, Glenmark: Time to accumulate pharma stocks on robust bullish trend?

The current volatility in the benchmark indices offer the ideal opportunity to accumulate pharma stocks around their respective supports

Glenmark Pharma Q1 results: Profit after tax dips 22% to Rs 149.9 cr

Sequentially, the company exhibited a 0.8 per cent increase in revenue and managed to turn around the PAT, having reported a loss of Rs 428.3 crore in the previous quarter

Glenmark Pharma Q1 profit drops 22% to Rs 150 crore on higher expenses

Expenses also increased due to a one-time cost of Rs 5202 crore spent during the quarter for repairs at its various manufacturing facilities in India and the United States

Glenmark Pharmaceuticals gets USFDA nod to market generic diabetes drug

Glenmark Pharmaceuticals on Tuesday said it has received approval from the US health regulator to market a generic diabetes drug in the American market. The company has received final approval from the US Food & Drug Administration (US FDA) for Saxagliptin Tablets (2.5 mg and 5 mg), the generic version of AstraZeneca's Onglyza1 tablets, the Mumbai-based drug maker said in a statement. According to IQVIATM sales data, for the 12-month period ending June 2023, the Onglyza tablets (2.5 mg and 5 mg) achieved annual sales of around USD 100.7 million. Glenmark said its current portfolio now consists of 184 products authorized for distribution in the US market and 49 abbreviated new drug applications (ANDAs) are pending approval with the US FDA.

Nirma emerges as frontrunner for Glenmark's API arm as bid deadline ends

Nirma Ltd and Sekhmet Pharmaventures were among the shortlisted bidders for a controlling stake in GLS

Nirma, Sekhmet Pharmaventures vie for $731 mn Glenmark Life stake: Reports

Suitors have entered final round of bidding for stake of about 83% in Mumbai-listed company held by Glenmark Pharmaceuticals Ltd., said people, who asked not to be identified as information is private

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Stocks to watch on June 16, 2023: IKIO Lighting to debut today; BHEL, Delta Corp, Indiabulls Housing Fin, IEX, India Cements, L&T Housing Fin, Manappuram Fin, Tata Chem and Zee in F&O ban period.