Glenmark comes up with extraordinary quarter

Glenmark Pharmaceuticals Ltd reported its results for the quarter ended June 30, 2017 today. 

The company's total sales for Q1FY18 came in at Rs 2363 crore, which represents a 3.83 per cent sequential decline and 20 per cent YoY increase.

Its operating profit (EBIT) for the quarter amounted to Rs 577.4 crore and its EBIT margin stood at 24.44 per cent.

The company reported PAT of Rs 333.3 crore, which represents a sequential QoQ increase of 81.44 per cent and a YoY increase of 47.02 per cent.

Currently, with the aim to increase revenues from the US markets, the company has filed two ANDA applications with the USFDA. Moreover, it is planning to file an additional five applications in the upcoming quarter. The company's products portfolio consists of 118 generic products authorized for distribution in the US market. The company currently has 67 applications pending in various stages of the approval process with the US FDA, of which 27 are Paragraph IV applications.
 
Additionally, It has a pipeline of 7 new molecular entities (NMEs), which includes 2 new chemical entities (NCEs) and 5 new biological entities (NBEs), in various stages of clinical development focused in the therapeutic areas of oncology, respiratory and dermatology. The company also has three specialty products in clinical development, targeting key indications in the respiratory therapy area.