GLENMARK
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Indian pharma stocks drop as Trump to sign executive order to cut prices of medicines
May 12 (Reuters) - Indian pharmaceutical stocks .NIPHARM shed 1.3% on Monday, even as the broader markets rose, after U.S. President Donald Trump said he would sign an executive order to cut prescription prices to the level paid by other high-income countries, an amount he put at 30% to 80% less.
Eight of the 20 stocks on the pharmaceutical sub-index were in the red, while the benchmark Nifty 50 index .NSEI was trading 2.4% higher.
Sun Pharma, India's top drugmaker by revenue, dropped 5.4% to be the top loser on the Nifty 50 and the pharma index. Glenmark Pharma GLEN.NS and Cipla CIPL.NS declined 0.4% and 1.5%, respectively.
Trump said he would sign the executive order on Monday morning to pursue what is known as "most favored nation" pricing or international reference pricing.
The U.S. pays the most in the world for many prescription drugs, often nearly triple that of other developed nations. Trump has said he wants to close that spread, but has not publicly specified how and did not provide details.
Several Indian drugmakers get a significant chunk of their revenue from North America by selling cheaper versions of the latest drugs.
The U.S. imports nearly a third of Indian pharma products sold overseas.
India's pharma exports to the U.S. jumped 16% to about $9 billion last fiscal year, according to data from government-backed trade body Pharmexcil.
(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; 8800437922;))
May 12 (Reuters) - Indian pharmaceutical stocks .NIPHARM shed 1.3% on Monday, even as the broader markets rose, after U.S. President Donald Trump said he would sign an executive order to cut prescription prices to the level paid by other high-income countries, an amount he put at 30% to 80% less.
Eight of the 20 stocks on the pharmaceutical sub-index were in the red, while the benchmark Nifty 50 index .NSEI was trading 2.4% higher.
Sun Pharma, India's top drugmaker by revenue, dropped 5.4% to be the top loser on the Nifty 50 and the pharma index. Glenmark Pharma GLEN.NS and Cipla CIPL.NS declined 0.4% and 1.5%, respectively.
Trump said he would sign the executive order on Monday morning to pursue what is known as "most favored nation" pricing or international reference pricing.
The U.S. pays the most in the world for many prescription drugs, often nearly triple that of other developed nations. Trump has said he wants to close that spread, but has not publicly specified how and did not provide details.
Several Indian drugmakers get a significant chunk of their revenue from North America by selling cheaper versions of the latest drugs.
The U.S. imports nearly a third of Indian pharma products sold overseas.
India's pharma exports to the U.S. jumped 16% to about $9 billion last fiscal year, according to data from government-backed trade body Pharmexcil.
(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; 8800437922;))
Glenmark Pharmaceuticals Says IGI Receives FDA Fast Track Designation For ISB 2001
May 5 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS LTD - IGI RECEIVES FDA FAST TRACK DESIGNATION FOR ISB 2001
Source text: ID:nBSE1SYXkx
Further company coverage: GLEN.NS
(([email protected];;))
May 5 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS LTD - IGI RECEIVES FDA FAST TRACK DESIGNATION FOR ISB 2001
Source text: ID:nBSE1SYXkx
Further company coverage: GLEN.NS
(([email protected];;))
Glenmark Pharma Clairifies Report About CDSCO Flagging Drugs
April 29 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
CLAIRIFIES REPORT ABOUT CDSCO FLAGGING DRUGS
PRODUCTS REFERRED TO IN REPORT SPURIOUS; NOT MADE BY CO
Source text: ID:nnAZN3RNEEN
Further company coverage: GLEN.NS
(([email protected];;))
April 29 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
CLAIRIFIES REPORT ABOUT CDSCO FLAGGING DRUGS
PRODUCTS REFERRED TO IN REPORT SPURIOUS; NOT MADE BY CO
Source text: ID:nnAZN3RNEEN
Further company coverage: GLEN.NS
(([email protected];;))
Glenmark Pharma Says USA Unit To Launch Dextroamphetamine Saccharate Tablets
April 16 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMA - GLENMARK PHARMACEUTICALS INC., USA TO LAUNCH DEXTROAMPHETAMINE SACCHARATE TABLETS
GLENMARK PHARMA-GLENMARK PHARMA INC TO LAUNCH MIXED SALTS OF SINGLE ENTITY AMPHETAMINE PRODUCT TABLETS
Further company coverage: GLEN.NS
(([email protected];))
April 16 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMA - GLENMARK PHARMACEUTICALS INC., USA TO LAUNCH DEXTROAMPHETAMINE SACCHARATE TABLETS
GLENMARK PHARMA-GLENMARK PHARMA INC TO LAUNCH MIXED SALTS OF SINGLE ENTITY AMPHETAMINE PRODUCT TABLETS
Further company coverage: GLEN.NS
(([email protected];))
UPDATE 5-Global pharma shares plunge as Trump doubles down on tariff threat
US drugmakers' shares drop 3% to 6% premarket
European, Indian healthcare stocks drag down broader indexes
Trump aims to shift pharma manufacturing to US, but analysts doubtful
Adds analyst comments in paragraphs 11-12, updates share moves throughout
By Manas Mishra and Ananta Agarwal
April 9 (Reuters) - Global drugmakers' stocks dropped across the board after U.S. President Donald Trump reiterated plans for a "major" tariff on pharmaceutical imports, threatening an interwoven global supply chain, and as his country-specific reciprocal tariffs took effect, leading to more pain in global markets.
Pharmaceutical imports were initially exempt from Trump's first set of reciprocal tariffs last week — but his administration has since indicated that levies on the sector, which in the past has been excluded from such actions, are coming.
The U.S. president has said the tariffs will incentivize drug companies to move operations to the United States. However, analysts and companies have raised concerns about the difficulty in setting up manufacturing in the country.
Shares of major U.S. drugmakers Amgen AMGN.O, AbbVie ABBV.N, Pfizer PFE.N, Merck MRK.N and Eli Lilly LLY.N fell between 3% and 6% in premarket trading.
In Europe, a basket of healthcare stocks .SXDP fell 5% to its lowest since October 2022, leading losses among sectoral indexes on the region-wide STOXX 600 .STOXX, which was down 3.3% at 1013 GMT. The index was heading for its biggest one-day drop since March 2020.
Trump had also threatened the duties on Friday after his first set of "reciprocal" tariffs exempted pharma products. Trump has not said when and by how much he plans to raise levies on pharma imports.
"While the details are scant, we are strongly opposed to tariffs on any pharmaceuticals — these will likely do little to shift manufacturing back to the U.S.," said BMO Capital Markets analyst Evan Seigerman.
"Given the complexity of the pharma supply chain, we do not expect the industry to make any major changes. These current tariffs are being pursued under emergency powers, which at worse will last until the end of the current administration and could end sooner with an act of Congress."
Seigerman also pointed to concerns over recent layoffs at the U.S. Food and Drug Administration, saying the worries were now compounded by the "real talk" of pharma tariffs.
ADDITIONAL COSTS, LONG WAIT FOR PRODUCTION
Europe and the U.S. have interconnected supply chains for medicines. The United States depends on medicines partly produced in Europe that bring in hundreds of billions of dollars in revenue.
Bernstein analyst Courtney Breen wrote in a note that her worst-case scenario assumes tariffs could be steep, leading to about $53 billion in additional costs paid for pharmaceutical imports.
If companies did choose to bring new manufacturing to the United States, Breen expects additional spend of $2 billion for each new "green field" site and a five-year runway to production.
EU medical and pharmaceutical product exports to the U.S. totaled about 90 billion euros ($97 billion) in 2023, according to latest Eurostat data.
Shares of AstraZeneca AZN.L, GSK GSK.L, Roche ROG.S, Sanofi SASY.PA and Novartis NOVN.S fell between 5% and 6.5% in Europe. Meanwhile, Indian pharmaceutical stocks .NIPHARM closed nearly 2% lower, dragging down the benchmark Nifty 50 .NSEI by 0.6%.
IPCA Laboratories IPCA.NS, Glenmark Pharma GLEN.NS and Biocon BION.NS were the top losers by percentage on the pharma index in Mumbai, ending the trading session between 4% and 5.5% lower.
India's pharma exports to the U.S. mostly comprise generics, or cheaper versions of popular drugs. The United States accounts for a third of India's overall pharma exports.
European pharma companies hit by looming tariff threat https://reut.rs/3Efihqg
BREAKINGVIEWS-Big Pharma has partial immunity from Trump tariffs nL5N3QM18T
(Reporting by Kashish Tandon, Ananta Agarwal and Manas Mishra in Bengaluru and Anna Pruchnicka in Gdansk; Editing by Savio D'Souza, Mrigank Dhaniwala and Shounak Dasgupta)
US drugmakers' shares drop 3% to 6% premarket
European, Indian healthcare stocks drag down broader indexes
Trump aims to shift pharma manufacturing to US, but analysts doubtful
Adds analyst comments in paragraphs 11-12, updates share moves throughout
By Manas Mishra and Ananta Agarwal
April 9 (Reuters) - Global drugmakers' stocks dropped across the board after U.S. President Donald Trump reiterated plans for a "major" tariff on pharmaceutical imports, threatening an interwoven global supply chain, and as his country-specific reciprocal tariffs took effect, leading to more pain in global markets.
Pharmaceutical imports were initially exempt from Trump's first set of reciprocal tariffs last week — but his administration has since indicated that levies on the sector, which in the past has been excluded from such actions, are coming.
The U.S. president has said the tariffs will incentivize drug companies to move operations to the United States. However, analysts and companies have raised concerns about the difficulty in setting up manufacturing in the country.
Shares of major U.S. drugmakers Amgen AMGN.O, AbbVie ABBV.N, Pfizer PFE.N, Merck MRK.N and Eli Lilly LLY.N fell between 3% and 6% in premarket trading.
In Europe, a basket of healthcare stocks .SXDP fell 5% to its lowest since October 2022, leading losses among sectoral indexes on the region-wide STOXX 600 .STOXX, which was down 3.3% at 1013 GMT. The index was heading for its biggest one-day drop since March 2020.
Trump had also threatened the duties on Friday after his first set of "reciprocal" tariffs exempted pharma products. Trump has not said when and by how much he plans to raise levies on pharma imports.
"While the details are scant, we are strongly opposed to tariffs on any pharmaceuticals — these will likely do little to shift manufacturing back to the U.S.," said BMO Capital Markets analyst Evan Seigerman.
"Given the complexity of the pharma supply chain, we do not expect the industry to make any major changes. These current tariffs are being pursued under emergency powers, which at worse will last until the end of the current administration and could end sooner with an act of Congress."
Seigerman also pointed to concerns over recent layoffs at the U.S. Food and Drug Administration, saying the worries were now compounded by the "real talk" of pharma tariffs.
ADDITIONAL COSTS, LONG WAIT FOR PRODUCTION
Europe and the U.S. have interconnected supply chains for medicines. The United States depends on medicines partly produced in Europe that bring in hundreds of billions of dollars in revenue.
Bernstein analyst Courtney Breen wrote in a note that her worst-case scenario assumes tariffs could be steep, leading to about $53 billion in additional costs paid for pharmaceutical imports.
If companies did choose to bring new manufacturing to the United States, Breen expects additional spend of $2 billion for each new "green field" site and a five-year runway to production.
EU medical and pharmaceutical product exports to the U.S. totaled about 90 billion euros ($97 billion) in 2023, according to latest Eurostat data.
Shares of AstraZeneca AZN.L, GSK GSK.L, Roche ROG.S, Sanofi SASY.PA and Novartis NOVN.S fell between 5% and 6.5% in Europe. Meanwhile, Indian pharmaceutical stocks .NIPHARM closed nearly 2% lower, dragging down the benchmark Nifty 50 .NSEI by 0.6%.
IPCA Laboratories IPCA.NS, Glenmark Pharma GLEN.NS and Biocon BION.NS were the top losers by percentage on the pharma index in Mumbai, ending the trading session between 4% and 5.5% lower.
India's pharma exports to the U.S. mostly comprise generics, or cheaper versions of popular drugs. The United States accounts for a third of India's overall pharma exports.
European pharma companies hit by looming tariff threat https://reut.rs/3Efihqg
BREAKINGVIEWS-Big Pharma has partial immunity from Trump tariffs nL5N3QM18T
(Reporting by Kashish Tandon, Ananta Agarwal and Manas Mishra in Bengaluru and Anna Pruchnicka in Gdansk; Editing by Savio D'Souza, Mrigank Dhaniwala and Shounak Dasgupta)
Glenmark Pharmaceuticals Inc., USA Launches Vancomycin Hydrochloride For Injection USP, 750 Mg/Vial, 1.25 G/Vial And 1.5 G/Vial (Single-Dose Vial)
April 1 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS INC., USA LAUNCHES VANCOMYCIN HYDROCHLORIDE FOR INJECTION USP, 750 MG/VIAL, 1.25 G/VIAL AND 1.5 G/VIAL (SINGLE-DOSE VIAL)
Source text: ID:nPn4wYPFna
Further company coverage: GLEN.NS
(([email protected];))
April 1 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS INC., USA LAUNCHES VANCOMYCIN HYDROCHLORIDE FOR INJECTION USP, 750 MG/VIAL, 1.25 G/VIAL AND 1.5 G/VIAL (SINGLE-DOSE VIAL)
Source text: ID:nPn4wYPFna
Further company coverage: GLEN.NS
(([email protected];))
India's Glenmark Pharma rises; HSBC upgrades to 'buy'
March 27 - ** Shares of Glenmark Pharmaceuticals Ltd GLEN.NS rise 2.3% to 1,495.95 rupees
** Stock top gainer on Nifty Pharma .NIPHARM index, which is down 1%
** HSBC upgrades drugmaker to "buy" from "hold" citing visibility on margin expansion for its base business; raises PT to 1,785 rupees from 1,630 rupees
** Brokerage also sees scope for re-rating if GLEN secures a licensing deal for its targeted cancer therapy ISB 2001
** GLEN, like half the stocks on 20-member NIPHARM, is rated "buy" - data compiled by LSEG
** Stock trims YTD losses to ~7%, faring better than pharma stocks' nearly 10% drop this year
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
March 27 - ** Shares of Glenmark Pharmaceuticals Ltd GLEN.NS rise 2.3% to 1,495.95 rupees
** Stock top gainer on Nifty Pharma .NIPHARM index, which is down 1%
** HSBC upgrades drugmaker to "buy" from "hold" citing visibility on margin expansion for its base business; raises PT to 1,785 rupees from 1,630 rupees
** Brokerage also sees scope for re-rating if GLEN secures a licensing deal for its targeted cancer therapy ISB 2001
** GLEN, like half the stocks on 20-member NIPHARM, is rated "buy" - data compiled by LSEG
** Stock trims YTD losses to ~7%, faring better than pharma stocks' nearly 10% drop this year
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
Glenmark Pharma- Receives FDA Approval For Olopatadine Hydrochloride Ophthalmic Solution
March 20 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS - RECEIVES FDA APPROVAL FOR OLOPATADINE HYDROCHLORIDE OPHTHALMIC SOLUTION
Source text: ID:nBSE71jjXQ
Further company coverage: GLEN.NS
(([email protected];))
March 20 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS - RECEIVES FDA APPROVAL FOR OLOPATADINE HYDROCHLORIDE OPHTHALMIC SOLUTION
Source text: ID:nBSE71jjXQ
Further company coverage: GLEN.NS
(([email protected];))
Glenmark Pharmaceuticals Says Glenmark Pharmaceuticals Inc Launches Epinephrine Injection Usp Multiple-Dose Vial
Feb 27 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS INC LAUNCHES EPINEPHRINE INJECTION USP MULTIPLE-DOSE VIAL
Source text: ID:nBSEtnRNn
Further company coverage: GLEN.NS
(([email protected];;))
Feb 27 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS INC LAUNCHES EPINEPHRINE INJECTION USP MULTIPLE-DOSE VIAL
Source text: ID:nBSEtnRNn
Further company coverage: GLEN.NS
(([email protected];;))
India's Glenmark Pharma rises on settling anti-trust lawsuit with plaintiffs
** Shares of Glenmark Pharmaceuticals GLEN.NS up ~4% to 1350.5 rupees
** Co settles remaining antitrust and consumer protection lawsuits with three plaintiffs in connection with generic cholesterol drug Zetia
** Plaintiffs include Humana HUM.N, Centene Corp CNC.N
and Kaiser Foundation Health Plan [RIC:RIC:KISERF.UL]
** Under terms of $7 mln settlement, Glenmark denies allegations by plaintiffs, concedes no liability
** Including session's gains, GLEN shares up 48.3% in the last 12 months
(Reporting by Ananta Agarwal in Bengaluru)
** Shares of Glenmark Pharmaceuticals GLEN.NS up ~4% to 1350.5 rupees
** Co settles remaining antitrust and consumer protection lawsuits with three plaintiffs in connection with generic cholesterol drug Zetia
** Plaintiffs include Humana HUM.N, Centene Corp CNC.N
and Kaiser Foundation Health Plan [RIC:RIC:KISERF.UL]
** Under terms of $7 mln settlement, Glenmark denies allegations by plaintiffs, concedes no liability
** Including session's gains, GLEN shares up 48.3% in the last 12 months
(Reporting by Ananta Agarwal in Bengaluru)
Glenmark Pharma Q3 Consol Net Profit 3.48 Billion Rupees
Feb 14 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMA Q3 CONSOL NET PROFIT 3.48 BILLION RUPEES
GLENMARK PHARMA Q3 CONSOL NET SALES 33.02 BILLION RUPEES
Source text: ID:nBSE5683hc
Further company coverage: GLEN.NS
(([email protected];))
Feb 14 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMA Q3 CONSOL NET PROFIT 3.48 BILLION RUPEES
GLENMARK PHARMA Q3 CONSOL NET SALES 33.02 BILLION RUPEES
Source text: ID:nBSE5683hc
Further company coverage: GLEN.NS
(([email protected];))
Glenmark Pharmaceuticals Receives MHRA Approval To Market Winlevi In UK
Feb 10 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
RECEIVES MHRA APPROVAL TO MARKET WINLEVI IN UK
WINLEVI APPROVED FOR TREATMENT OF ACNE VULGARIS IN PATIENTS AGED 12+
Source text: ID:nBSE85XZy7
Further company coverage: GLEN.NS
(([email protected];;))
Feb 10 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
RECEIVES MHRA APPROVAL TO MARKET WINLEVI IN UK
WINLEVI APPROVED FOR TREATMENT OF ACNE VULGARIS IN PATIENTS AGED 12+
Source text: ID:nBSE85XZy7
Further company coverage: GLEN.NS
(([email protected];;))
Glenmark Pharmaceuticals Launches Phytonadione Injectable Emulsion USP
Jan 21 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS - LAUNCHES PHYTONADIONE INJECTABLE EMULSION USP
Source text: ID:nNSEJjlCj
Further company coverage: GLEN.NS
(([email protected];;))
Jan 21 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS - LAUNCHES PHYTONADIONE INJECTABLE EMULSION USP
Source text: ID:nNSEJjlCj
Further company coverage: GLEN.NS
(([email protected];;))
Glenmark Pharma Says Glenmark Pharma Inc., USA Launches Lacosamide Oral Solution
Dec 16 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS INC., USA LAUNCHES LACOSAMIDE ORAL SOLUTION, 10 MG/ML
Source text: ID:nBSE28f2Ds
Further company coverage: GLEN.NS
(([email protected];;))
Dec 16 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS INC., USA LAUNCHES LACOSAMIDE ORAL SOLUTION, 10 MG/ML
Source text: ID:nBSE28f2Ds
Further company coverage: GLEN.NS
(([email protected];;))
India's Glenmark Pharma up on positive early-stage results for blood cancer drug
** Shares of Glenmark Pharmaceuticals GLEN.NS rise 2.6% to 1,554 rupees
** GLEN top gainer on Nifty Pharma index .NIPHARM, which is up 0.14%
** Ichnos Glenmark Innovation says early-stage results for its blood cancer drug, ISB 2001, showed promising results
** Ichnos Glenmark Innovation is a partnership between Ichnos Sciences and Glenmark Pharma to develop cancer treatments
** ISB 2001 developed for treating advanced multiple myeloma, a type of cancer developing in plasma cells
** 83% of 18 patients in study showed partial or complete response to treatment, with cancer going away completely in 20% - co
** Stock set to snap a four-day losing streak
** Analysts' avg rating on GLEN at "buy; median PT is 1,700 rupees - LSEG data
** Stock up ~55% YTD, while pharma index is up 33%
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
** Shares of Glenmark Pharmaceuticals GLEN.NS rise 2.6% to 1,554 rupees
** GLEN top gainer on Nifty Pharma index .NIPHARM, which is up 0.14%
** Ichnos Glenmark Innovation says early-stage results for its blood cancer drug, ISB 2001, showed promising results
** Ichnos Glenmark Innovation is a partnership between Ichnos Sciences and Glenmark Pharma to develop cancer treatments
** ISB 2001 developed for treating advanced multiple myeloma, a type of cancer developing in plasma cells
** 83% of 18 patients in study showed partial or complete response to treatment, with cancer going away completely in 20% - co
** Stock set to snap a four-day losing streak
** Analysts' avg rating on GLEN at "buy; median PT is 1,700 rupees - LSEG data
** Stock up ~55% YTD, while pharma index is up 33%
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
Glenmark Pharma Says Glenmark Pharmaceuticals Inc., USA Launches Travoprost Ophthalmic Solution
Nov 27 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS INC., USA LAUNCHES TRAVOPROST OPHTHALMIC SOLUTION
Source text: [ID:]
Further company coverage: GLEN.NS
(([email protected];;))
Nov 27 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS INC., USA LAUNCHES TRAVOPROST OPHTHALMIC SOLUTION
Source text: [ID:]
Further company coverage: GLEN.NS
(([email protected];;))
Glenmark Pharma Q2 Consol Net Profit 3.54 Bln Rupees
Nov 14 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
Q2 CONSOL NET PROFIT 3.54 BILLION RUPEES
Q2 CONSOL NET SALES 34 BILLION RUPEES
Source text: ID:nBSE4HFX6
Further company coverage: GLEN.NS
(([email protected];;))
Nov 14 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
Q2 CONSOL NET PROFIT 3.54 BILLION RUPEES
Q2 CONSOL NET SALES 34 BILLION RUPEES
Source text: ID:nBSE4HFX6
Further company coverage: GLEN.NS
(([email protected];;))
India's Glenmark Life gains after Kotak's double upgrade
** Shares of Glenmark Life Sciences GLEM.NS climb 3.5% at 971.20 rupees
** Brokerage Kotak Institutional Equities upgrades stock to "Buy" from "Reduce"
** GLEM's near-term outlook is intact as it continues to step up investments in capacity addition under Nirma, brokerage says
** Adds, new client wins in ts contract manufacturing segment, along with a rich API portfolio will be key growth drivers for the company in near term
** GLEM's stock fell 10% last week after downbeat Q2 results due to a temporary shutdown of its biggest manufacturing facility in Gujarat
** Analysts' avg rating on GLEM at "buy"; peers Laurus Labs LAUL.NS and Divi's Laboratories DIVI.NS rated "Hold" - LSEG data
** GLEM's ~48% YTD gain bigger than LAUL's ~15% climb but smaller than DIVI's ~49% rise
(Reporting by Kashish Tandon in Bengaluru)
** Shares of Glenmark Life Sciences GLEM.NS climb 3.5% at 971.20 rupees
** Brokerage Kotak Institutional Equities upgrades stock to "Buy" from "Reduce"
** GLEM's near-term outlook is intact as it continues to step up investments in capacity addition under Nirma, brokerage says
** Adds, new client wins in ts contract manufacturing segment, along with a rich API portfolio will be key growth drivers for the company in near term
** GLEM's stock fell 10% last week after downbeat Q2 results due to a temporary shutdown of its biggest manufacturing facility in Gujarat
** Analysts' avg rating on GLEM at "buy"; peers Laurus Labs LAUL.NS and Divi's Laboratories DIVI.NS rated "Hold" - LSEG data
** GLEM's ~48% YTD gain bigger than LAUL's ~15% climb but smaller than DIVI's ~49% rise
(Reporting by Kashish Tandon in Bengaluru)
India's Glenmark Life eyes worst day ever after downbeat Q2 results
** Shares of Glenmark Life Sciences GLEM.NS drop 10% to 936.90 rupees
** Stock set for worst day ever if losses hold
** API maker's Q2 profit fell ~20% YoY, rev from ops down ~15% YoY
** GLEM said temporary closure of a manufacturing facility in Gujarat hurt revenue across geographies
** Trading volume at 2.1x the 30-day moving avg
** Analysts' avg rating on GLEM at "buy"; peers Laurus Labs LAUL.NS and Divi's Laboratories DIVI.NS rated "hold" - LSEG data
** GLEM's 43% YTD gain bigger than LAUL's ~10% climb but smaller than DIVI's ~48% rise
(Reporting by Kashish Tandon in Bengaluru)
** Shares of Glenmark Life Sciences GLEM.NS drop 10% to 936.90 rupees
** Stock set for worst day ever if losses hold
** API maker's Q2 profit fell ~20% YoY, rev from ops down ~15% YoY
** GLEM said temporary closure of a manufacturing facility in Gujarat hurt revenue across geographies
** Trading volume at 2.1x the 30-day moving avg
** Analysts' avg rating on GLEM at "buy"; peers Laurus Labs LAUL.NS and Divi's Laboratories DIVI.NS rated "hold" - LSEG data
** GLEM's 43% YTD gain bigger than LAUL's ~10% climb but smaller than DIVI's ~48% rise
(Reporting by Kashish Tandon in Bengaluru)
India flags quality issues with some widely used antacids and paracetamol
By Rishika Sadam
BENGALURU, Sept 26 (Reuters) - India's drug regulator has found more than 50 drugs, including some batches of widely used antacids and paracetamol, to be substandard or fake, according to government documents.
The regulator, Central Drugs Standard Control Organisation, releases a monthly list of substandard or fake medicines sold in the country after routine tests across the country by multiple agencies.
The regulator found some drugs as "not of standard quality", including a batch each of Alkem Laboratories' ALKE.NS popular antacid Pan-D, Hetero's anti-infective Cepodem and Shelcal, a vitamin and calcium tablet brand made by privately-owned Pure & Cure Healthcare, and several antibiotics, according to the lists for August.
Sun Pharmaceutical Industries SUN.NS separately informed the regulator of a fake batch of Pantocid, a popular Indian brand of an antacid called pantoprazole. The agency said it is investigating the matter.
Fake, or "spurious", batches of Sun's drug Pulmosil, used to treat high blood pressure in the lungs, and Glenmark Pharmaceuticals' GLEN.NS anti-hypertension drug Telma H, among others, were also notified by the companies to the regulator and were being investigated.
"When a medicine is found to be below quality standards, the drug regulator sends a notice to the manufacturer to check and recall that batch of product. Companies too conduct their own tests on leftover samples to check for the possibility of counterfeit," said Rajiv Singhal, general secretary of drug retailer body All India Organisation of Chemists and Druggists.
The companies did not immediately respond to Reuters' request for comment.
Gastrointestinal, anti-diabetic, vitamins and nutraceutical drug sales were one of the top contributors to the domestic pharma market growth in August, according to research firm Pharmarack.
India, one of the world's largest drug producers and exporters, is working to restore confidence after Indian-made cough syrups were linked to the deaths of children in Gambia, Uzbekistan, and Cameroon.
(Reporting by Rishika Sadam; Editing by Leroy Leo)
By Rishika Sadam
BENGALURU, Sept 26 (Reuters) - India's drug regulator has found more than 50 drugs, including some batches of widely used antacids and paracetamol, to be substandard or fake, according to government documents.
The regulator, Central Drugs Standard Control Organisation, releases a monthly list of substandard or fake medicines sold in the country after routine tests across the country by multiple agencies.
The regulator found some drugs as "not of standard quality", including a batch each of Alkem Laboratories' ALKE.NS popular antacid Pan-D, Hetero's anti-infective Cepodem and Shelcal, a vitamin and calcium tablet brand made by privately-owned Pure & Cure Healthcare, and several antibiotics, according to the lists for August.
Sun Pharmaceutical Industries SUN.NS separately informed the regulator of a fake batch of Pantocid, a popular Indian brand of an antacid called pantoprazole. The agency said it is investigating the matter.
Fake, or "spurious", batches of Sun's drug Pulmosil, used to treat high blood pressure in the lungs, and Glenmark Pharmaceuticals' GLEN.NS anti-hypertension drug Telma H, among others, were also notified by the companies to the regulator and were being investigated.
"When a medicine is found to be below quality standards, the drug regulator sends a notice to the manufacturer to check and recall that batch of product. Companies too conduct their own tests on leftover samples to check for the possibility of counterfeit," said Rajiv Singhal, general secretary of drug retailer body All India Organisation of Chemists and Druggists.
The companies did not immediately respond to Reuters' request for comment.
Gastrointestinal, anti-diabetic, vitamins and nutraceutical drug sales were one of the top contributors to the domestic pharma market growth in August, according to research firm Pharmarack.
India, one of the world's largest drug producers and exporters, is working to restore confidence after Indian-made cough syrups were linked to the deaths of children in Gambia, Uzbekistan, and Cameroon.
(Reporting by Rishika Sadam; Editing by Leroy Leo)
India's Glenmark Pharma jumps after US FDA ends inspection with no observations
** Shares of Glenmark Pharma GLEN.NS rise 6.7% to 1,744 rupees
** Stock top pct gainer on Nifty Pharma index .NIPHARM which is up 0.6%
** Co on Saturday said the US FDA closed inspection of its facility in Aurangabad, Maharashtra, with no observations
** The Aurangabad site produces oral solid dosage, inhalers, and foam for domestic and international markets
** Avg rating of analysts covering stock at "buy"; median PT is 1,580 rupees - LSEG data
** GLEN up ~103% YTD vs ~38% climb in pharma index
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
** Shares of Glenmark Pharma GLEN.NS rise 6.7% to 1,744 rupees
** Stock top pct gainer on Nifty Pharma index .NIPHARM which is up 0.6%
** Co on Saturday said the US FDA closed inspection of its facility in Aurangabad, Maharashtra, with no observations
** The Aurangabad site produces oral solid dosage, inhalers, and foam for domestic and international markets
** Avg rating of analysts covering stock at "buy"; median PT is 1,580 rupees - LSEG data
** GLEN up ~103% YTD vs ~38% climb in pharma index
(Reporting by Yagnoseni Das in Bengaluru)
(([email protected];))
Glenmark Pharma Says Glenmark Therapeutics Launches Olopatadine Hydrochloride Ophthalmic Solution
Aug 19 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMA - GLENMARK THERAPEUTICS LAUNCHES OLOPATADINE HYDROCHLORIDE OPHTHALMIC SOLUTION
Source text for Eikon: ID:nBSE4VB4dC
Further company coverage: GLEN.NS
(([email protected];))
Aug 19 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMA - GLENMARK THERAPEUTICS LAUNCHES OLOPATADINE HYDROCHLORIDE OPHTHALMIC SOLUTION
Source text for Eikon: ID:nBSE4VB4dC
Further company coverage: GLEN.NS
(([email protected];))
India's Glenmark Pharma gains on posting rise in Q1 profit
** Shares of Glenmark Pharma GLEN.NS rise 5.1% after posting higher June quarter profit on strong demand
** Drug maker's consolidated profit before exceptional items and taxes in June quarter more than doubles to 4.62 billion Indian rupees
** Fiscal year 2025 has started with a sharp jump in profitability driven by controlled costs, sharp drop in research and development (R&D) expenses and higher sales, says Investec
** Reiterates "buy" recommendation citing strong earnings outlook
** GLEN is the top gainer on pharma index .NIPHARM, which is trading flat
** GLEN up 83% in 2024 so far, outperforming the 31% rise in pharma index - stock exchange data
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Shares of Glenmark Pharma GLEN.NS rise 5.1% after posting higher June quarter profit on strong demand
** Drug maker's consolidated profit before exceptional items and taxes in June quarter more than doubles to 4.62 billion Indian rupees
** Fiscal year 2025 has started with a sharp jump in profitability driven by controlled costs, sharp drop in research and development (R&D) expenses and higher sales, says Investec
** Reiterates "buy" recommendation citing strong earnings outlook
** GLEN is the top gainer on pharma index .NIPHARM, which is trading flat
** GLEN up 83% in 2024 so far, outperforming the 31% rise in pharma index - stock exchange data
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
Glenmark Pharma Q1 Consol Net Profit 3.4 Billion Rupees
Aug 14 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
Q1 CONSOL NET PROFIT 3.4 BILLION RUPEES
Q1 CONSOL NET SALES 32.23 BILLION RUPEES
Source text for Eikon: ID:nBSE8ZM6tk
Further company coverage: GLEN.NS
(([email protected];))
Aug 14 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
Q1 CONSOL NET PROFIT 3.4 BILLION RUPEES
Q1 CONSOL NET SALES 32.23 BILLION RUPEES
Source text for Eikon: ID:nBSE8ZM6tk
Further company coverage: GLEN.NS
(([email protected];))
Glenmark Pharma Gets ANDA Approval For Topiramate Capsules
July 17 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
RECEIVES ANDA APPROVAL FOR TOPIRAMATE CAPSULES USP, 15 MG & 25 MG
GETS FINAL APPROVAL BY USFDA FOR TOPIRAMATE CAPSULES
Source text for Eikon: ID:nBSE3Dmt10
Further company coverage: GLEN.NS
(([email protected];))
July 17 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
RECEIVES ANDA APPROVAL FOR TOPIRAMATE CAPSULES USP, 15 MG & 25 MG
GETS FINAL APPROVAL BY USFDA FOR TOPIRAMATE CAPSULES
Source text for Eikon: ID:nBSE3Dmt10
Further company coverage: GLEN.NS
(([email protected];))
Glenmark Pharma Sets Offer For Sale Floor Price Of 810 Rupees Per Share
July 10 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
OFFER FOR SALE FLOOR PRICE 810 RUPEES PER SHARE
Source text for Eikon: ID:nNSE5XK2RD
Further company coverage: GLEN.NS
(([email protected];))
July 10 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
OFFER FOR SALE FLOOR PRICE 810 RUPEES PER SHARE
Source text for Eikon: ID:nNSE5XK2RD
Further company coverage: GLEN.NS
(([email protected];))
Glenmark Pharmaceuticals Says Co Receives ANDA Approval For Esomeprazole Magnesium Delayed-Release Capsules Usp
June 12 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS LTD - GLENMARK RECEIVES ANDA APPROVAL FOR ESOMEPRAZOLE MAGNESIUM DELAYED-RELEASE CAPSULES USP, 20 MG
GLENMARK PHARMACEUTICALS - ESOMEPRAZOLE MAGNESIUM CAPSULES WILL BE DISTRIBUTED IN U.S. BY GLENMARK THERAPEUTICS
Source text for Eikon: ID:nNSE8bPGvV
Further company coverage: GLEN.NS
(([email protected];))
June 12 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS LTD - GLENMARK RECEIVES ANDA APPROVAL FOR ESOMEPRAZOLE MAGNESIUM DELAYED-RELEASE CAPSULES USP, 20 MG
GLENMARK PHARMACEUTICALS - ESOMEPRAZOLE MAGNESIUM CAPSULES WILL BE DISTRIBUTED IN U.S. BY GLENMARK THERAPEUTICS
Source text for Eikon: ID:nNSE8bPGvV
Further company coverage: GLEN.NS
(([email protected];))
India's Glenmark Pharma near 9-yr high; debt reduction key re-rating trigger, says Investec
** Shares of India's Glenmark Pharmaceuticals GLEN.NS jump as much as 8.5% to 1,123.90 rupees, their highest levels since Sept. 2015
** Drugmaker posts Q4 loss but gross debt fell 77% y/y as of FY24-end
** Debt trimming a key re-rating driver, Investec adds, its current rating "buy" with TP 1,090 rupees
** Avg rating on co is "buy" with median TP 900 rupees - LSEG
** Expect cash flow generation in next 2-3 years, better-than-expected growth to allay fears about Indian biz, brokerage adds
** Stock last up 6.6% on the day, with trading vols 6x the 30-day avg
** Stock up 29.4% YTD, after a 101% surge in 2023
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** Shares of India's Glenmark Pharmaceuticals GLEN.NS jump as much as 8.5% to 1,123.90 rupees, their highest levels since Sept. 2015
** Drugmaker posts Q4 loss but gross debt fell 77% y/y as of FY24-end
** Debt trimming a key re-rating driver, Investec adds, its current rating "buy" with TP 1,090 rupees
** Avg rating on co is "buy" with median TP 900 rupees - LSEG
** Expect cash flow generation in next 2-3 years, better-than-expected growth to allay fears about Indian biz, brokerage adds
** Stock last up 6.6% on the day, with trading vols 6x the 30-day avg
** Stock up 29.4% YTD, after a 101% surge in 2023
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Glenmark Pharmaceuticals Dividend 2.5 Rupees per Share
May 24 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS LTD - DIVIDEND 2.5 RUPEESPER SHARE
Source text for Eikon: ID:nBSE2RYz5C
Further company coverage: GLEN.NS
(([email protected];;))
May 24 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS LTD - DIVIDEND 2.5 RUPEESPER SHARE
Source text for Eikon: ID:nBSE2RYz5C
Further company coverage: GLEN.NS
(([email protected];;))
Glenmark Pharmaceuticals- Co, Beigene Enter Into Agreement For Marketing, Distribution Of Tislelizumab, Zanubrutinib In India
May 21 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS LTD- CO, BEIGENE ENTER INTO AN AGREEMENT FOR MARKETING AND DISTRIBUTION OF TISLELIZUMAB AND ZANUBRUTINIB IN INDIA
Source text for Eikon: [ID:]
Further company coverage: GLEN.NS
(([email protected];))
May 21 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:
GLENMARK PHARMACEUTICALS LTD- CO, BEIGENE ENTER INTO AN AGREEMENT FOR MARKETING AND DISTRIBUTION OF TISLELIZUMAB AND ZANUBRUTINIB IN INDIA
Source text for Eikon: [ID:]
Further company coverage: GLEN.NS
(([email protected];))
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What does Glenmark Pharma do?
Glenmark Pharmaceuticals focuses on developing innovative drugs in inflammation, metabolic disorders, and pain, with a formulations business spanning multiple regions and therapeutic areas.
Who are the competitors of Glenmark Pharma?
Glenmark Pharma major competitors are Ipca Laboratories, Ajanta Pharma, Glaxosmithkline Phar, Alkem Laboratories, Gland Pharma, JB Chem & Pharma, Pfizer. Market Cap of Glenmark Pharma is ₹44,870 Crs. While the median market cap of its peers are ₹32,092 Crs.
Is Glenmark Pharma financially stable compared to its competitors?
Glenmark Pharma seems to be less financially stable compared to its competitors. Altman Z score of Glenmark Pharma is 6.73 and is ranked 7 out of its 8 competitors.
Does Glenmark Pharma pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Glenmark Pharma latest dividend payout ratio is 23.73% and 3yr average dividend payout ratio is 15.61%
How has Glenmark Pharma allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Cash & Short Term Investments, Capital Work in Progress, Inventory, Short Term Loans & Advances
How strong is Glenmark Pharma balance sheet?
Balance sheet of Glenmark Pharma is strong. But short term working capital might become an issue for this company.
Is the profitablity of Glenmark Pharma improving?
The profit is oscillating. The profit of Glenmark Pharma is ₹1,047 Crs for TTM, -₹1,501.67 Crs for Mar 2024 and ₹297 Crs for Mar 2023.
Is the debt of Glenmark Pharma increasing or decreasing?
Yes, The net debt of Glenmark Pharma is increasing. Latest net debt of Glenmark Pharma is ₹489 Crs as of Mar-25. This is greater than Mar-24 when it was -₹2,327.34 Crs.
Is Glenmark Pharma stock expensive?
Yes, Glenmark Pharma is expensive. Latest PE of Glenmark Pharma is 42.85, while 3 year average PE is 16.47. Also latest EV/EBITDA of Glenmark Pharma is 19.29 while 3yr average is 13.36.
Has the share price of Glenmark Pharma grown faster than its competition?
Glenmark Pharma has given better returns compared to its competitors. Glenmark Pharma has grown at ~26.74% over the last 4yrs while peers have grown at a median rate of 11.55%
Is the promoter bullish about Glenmark Pharma?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in Glenmark Pharma is 46.65% and last quarter promoter holding is 46.65%.
Are mutual funds buying/selling Glenmark Pharma?
The mutual fund holding of Glenmark Pharma is increasing. The current mutual fund holding in Glenmark Pharma is 12.86% while previous quarter holding is 12.12%.