GLENMARK

March 20 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:

• GLENMARK PHARMACEUTICALS - RECEIVES FDA APPROVAL FOR OLOPATADINE HYDROCHLORIDE OPHTHALMIC SOLUTION

Source text: ID:nBSE71jjXQ

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Feb 27 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:

• GLENMARK PHARMACEUTICALS INC LAUNCHES EPINEPHRINE INJECTION USP MULTIPLE-DOSE VIAL

Source text: ID:nBSEtnRNn

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** 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)

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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

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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

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Jan 21 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:

• GLENMARK PHARMACEUTICALS - LAUNCHES PHYTONADIONE INJECTABLE EMULSION USP

Source text: ID:nNSEJjlCj

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Dec 16 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:

• GLENMARK PHARMACEUTICALS INC., USA LAUNCHES LACOSAMIDE ORAL SOLUTION, 10 MG/ML

Source text: ID:nBSE28f2Ds

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** 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)

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Nov 27 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:

• GLENMARK PHARMACEUTICALS INC., USA LAUNCHES TRAVOPROST OPHTHALMIC SOLUTION

Source text: [ID:]

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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

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** 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)

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** 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)

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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)

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** 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)

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Aug 19 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:

• GLENMARK PHARMA - GLENMARK THERAPEUTICS LAUNCHES OLOPATADINE HYDROCHLORIDE OPHTHALMIC SOLUTION

Source text for Eikon: ID:nBSE4VB4dC

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** 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)

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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

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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

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July 10 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:

• OFFER FOR SALE FLOOR PRICE 810 RUPEES PER SHARE

Source text for Eikon: ID:nNSE5XK2RD

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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

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** 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)

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May 24 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:

• GLENMARK PHARMACEUTICALS LTD - DIVIDEND 2.5 RUPEESPER SHARE

Source text for Eikon: ID:nBSE2RYz5C

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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:]

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May 17 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:

• RECEIVES ANDA APPROVAL FOR BRIMONIDINE TARTRATE AND TIMOLOL MALEATE OPTHALMIC SOLUTION

• RECEIVED FINAL APPROVAL BY U.S. FDA FOR BRIMONIDINE TARTRATE AND TIMOLOL MALEATE OPHTHALMIC SOLUTION

Source text for Eikon: [ID:]

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April 29 (Reuters) - Glenmark Pharmaceuticals Ltd GLEN.NS:

• RECEIVES ANDA APPROVAL FOR ACETAMINOPHEN AND IBUPROFEN TABLETS

Source text for Eikon: [ID:]

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** Shares of Glenmark Life Sciences GLEM.NS fall as much as 8.8% to 753.55 rupees

** The active pharmaceutical ingredients maker's fourth-quarter profit fell over 33% y/y to 979.4 mln rupees ($11.8 mln), rev from ops down 13.5%

** Stock was little changed ahead of the results

** Including session's move, stock up ~15% YTD

($1 = 83.3230 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

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MUMBAI, Feb 21 (Reuters) - India's Nirma NIRMA.UL has accepted bids aggregating to 35 billion rupees ($422 million) for a three-part shorter-tenor bonds to fund its acquisition of a 75% stake in Glenmark Pharma's GLEN.NS life sciences unit, three bankers said on Wednesday.

Earlier in the day, the detergent maker had invited bids for bonds maturing in one year and two days, two years, one month and 16 days, and in three year, one month and 16 days.

The company will pay an annual coupon of 8.30%, 8.40% and 8.50%, respectively, to investors of the bond issue.

Axis Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Aditya Birla Finance, Aditya Birla Sun Life Mutual Fund, Kotak Mutual Fund, Nippon India Mutual Fund, SBI Mutual Fund were the anchor investors to the issue, according to bankers.

In September, Glenmark Pharma said it would sell a 75% stake in Glenmark Life Sciences GLEM.NS to Nirma for 56.52 billion rupees. The deal is expected to be completed in the current financial year. nL4N3AX38V

Crisil Ratings has assigned an "AA" rating for the proposed issue after factoring in the company's intent to diversify its business via the proposed acquisition.

The coupon will step up by 25 basis points for every notch downgrade in the ratings of the bonds.

Nirma last tapped the bond market in July 2022, when it raised 1 billion rupees via bonds maturing in 18 months at a coupon of 7.59%.

Here is the list of deals reported so far on Feb. 21:

*Size includes base plus greenshoe for some issues

($1 = 82.9270 Indian rupees)

(Reporting by Bhakti Tambe; Editing by Varun H K)

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** Shares of Glenmark Pharmaceuticals GLEN.NS rise as much as 3.2% to 890 rupees

** HSBC Global Research expects co's operating margins and working capital to improve after it overhauled distribution model for its India formulations business in Q3

** Lower R&D spending for its unit Ichnos, recovery in India formulations with better inventory management, start of supply at U.S.-based Monroe plant in FY25e and pick-up in sales for its Ryaltris nasal spray brand are margin drivers - HSBC

** HSBC expects 2% expansion in co's core FY25e EBITDA margins

** Upgrades co to "buy" from "hold" and raises TP to 1,100 rupees from 960 rupees

** Revised TP implies 27.5% upside over last close

** Mean rating of 12 analysts is "hold", median PT is 818 rupees - LSEG data

(Reporting by Meenakshi Maidas in Bengaluru)

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Corrects to clarify company posted a Q3 loss

** Shares of Glenmark Pharma GLEN.NS rise 10% to 891 rupees, up ~12% in two sessions and swinging to YTD gains

** Stock posts best two-day gain in nearly 3 years

** Drugmaker posts Q3 loss but says it expects to turn net cash flow positive by next fiscal and expects India business to grow 10%-12% by next year

** Trading volume nearly 7x the 30-day moving average, its most active session in five months

** Analysts' avg rating on GLEN at "hold"; median PT is 783 rupees - LSEG data

** Stock now up 3.3% YTD after more than doubling in value in 2023

(Reporting by Kashish Tandon in Bengaluru)

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HYDERABAD, Feb 14 (Reuters) - India's generic drugmaker Glenmark Pharmaceuticals GLEN.NS posted a quarterly loss for the second time straight, hurt by higher expenses and costs related to remediation of its manufacturing sites.

The company's consolidated net loss came in at 3.51 billion rupees ($42.28 million) for the third quarter ended Dec. 31, compared with 2.73 billion rupees reported a year earlier.

Total expenses during the quarter rose 4.2% to 29.97 billion rupees.

The company also incurred an exceptional charge of 767.24 million rupees, primarily related to the remediation cost of its manufacturing sites in India and the U.S. and an ongoing legal settlement with the U.S. Department of Justice.

Glenmark, which makes dermatology, oncology and respiratory branded and generic medication, said its total revenue from operations fell 19% to 25.17 billion rupees.

Revenue from India business fell 75.6% to 2.62 billion rupees, as the company ramped up its efforts to change the distribution model and launch anti‐counterfeit packaging.

"Glenmark is going through a transitionary phase on account of the divestment of Glenmark Life Sciences," Managing Director Glen Saldanha said.

Its revenue from North America, the biggest contributor, fell 8.8% in the quarter, hurt by the impact of lowered drug prices in the U.S. amid stiff competition.

However, its Europe business revenue rose 28.9% to 6.36 billion rupees, compared with a year earlier.

Consumer care business sales, which includes flagship brands such as Candid anti-fungal powder, grew 18% to 482.4 million rupees, said Glenmark - the maker of Fabiflu medicine, which was widely used during the pandemic.

Shares of the company closed 4.2% lower ahead of the results.

($1 = 83.0110 Indian rupees)

(Reporting by Rishika Sadam; Editing by Shweta Agarwal)

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