GLENMARK PHARMACEUTICALS
LIMITED
RESULTS FOR Q1 FY
2013-14
Q/E JUNE 2013.
HIGH LIGHTS
consolidated
revenue increases
by 18.98% to Rs. 12,378.82 Mn for Q1 FY
13-14
Consolidated Net Profit increased by 64.38 % to Rs. 1286.76 mn in
Q1 FY13-14
Business
Highlights
Specialty Formulations business grew by 20.37% to 6,074.17 mn for the Quarter
India formulations business recorded a growth 17.44% for the Quarter
Generics business registered sales growth of 17.78%. to Rs. 6,242.58 mn in Q1
FY 13-14
US Generics Business grew by 13.91% for the quarter
For
the First quarter ended June 30, 2013, Glenmark’s consolidated revenue was at
Rs.12,378.82 Mn (USD 221.85 mn) as against Rs.10, 404.07Mn (USD 190.62 Mn) an
increase of 18.98%.
Revenue
from the generics business was at Rs.6,242.58 Mn (USD 111.88 Mn), as against
Rs.5,300.00 Mn (USD 97.11 Mn), a growth of 17.78%.
The
Specialty formulation business excluding outlicensing revenue was at Rs.6,074.17Mn
(USD 108.86Mn) as against Rs 5,046.45 Mn (USD 92.46Mn) for the corresponding
previous quarter, recording a growth of 20.37%.
Net
Profit for the quarter ended June 30, 2013 was Rs. 1286.76 mn as compared to
Rs.782.75 Mn for the previous corresponding quarter an increase of 64.38 %.
Earnings
per share stands at Rs. 4.75; against Rs.6.16 in previous qtr and
Rs.2.89 in the corresponding qtr of last year – on consolidated basis.
“We
have recorded good growth in both our Generics and Specialty Formulations businesses
across key geographies” said Glenn Saldanha, Chairman & MD, Glenmark Pharmaceuticals
Limited. “We continue to do well in markets like India, US and Russia despite
challenges in the operating environment. We have been also making steady progress
on the Innovation R&D front with our 5 NCE & NBE molecules in clinical
trials”; he added.
Speciality Formulations
Business
Sales
for the formulation business in India for the first quarter ended June 30,
2013, increased to Rs.3,285.83Mn [USD 58.89 mn] as compared to Rs. 2,797.88 Mn [USD51.26Mn]
in the previous corresponding quarter, recording a growth of 17.44% For the
first quarter, revenue from Africa, Asia and CIS region was Rs.1, 685.52Mn [USD
30.21Mn] as against Rs. 1,348.40 Mn [USD 24.71Mn] for the previous
corresponding quarter, recording an increase of 25.00%. Glenmark’s revenue from
its Latin American and Caribbean operations was at Rs. 841.48Mn [USD 15.08 Mn]
for the first quarter ended June 30, 2013 as against Rs. 630.51Mn [USD 11.55Mn]
recording growth of 33.46%
Generics
Business:
Glenmark
Generics Inc., U.S.A. registered revenue from sale of finished dosage formulations
of Rs.4,469.52 Mn (USD 80.10 Mn) for the first quarter of FY 2013-14 against revenue
of Rs. 3,923.58Mn (USD 71.89 Mn) for the first quarter of the previous year, an
increase of 13.91% over the corresponding quarter of the previous year. Revenue
from sale of API to regulated and semi-regulated markets globally was Rs.
1,270.94Mn [USD 22.78 Mn] for the First quarter of FY 2013-14 against Rs.1,
004.71Mn [USD 18.41Mn]), for the first quarter of the previous year, recording
an increase of 26.50%.
About
Glenmark
Glenmark
Pharmaceuticals Ltd. (GPL) is a research-driven, global, integrated
pharmaceutical company headquartered at Mumbai, India. It is ranked among the
top 100 Pharma& Biotech companies of the world in terms of revenues. (SCRIP
100 Rankings published in the year 2012). Glenmark is a leading player in the discovery
of new molecules both NCEs (new chemical entity) and NBEs (new biological
entity). Glenmark has several molecules in various stages of clinical
development and is primarily focused in the areas of Inflammation [asthma/COPD,
rheumatoid arthritis etc.] and Pain [neuropathic pain and inflammatory pain]. The
company has a significant presence in branded generics markets across emerging
economies including India. GPL along with its subsidiary has 14 manufacturing
facilities in four countries and has six R&D centers. Its subsidiary,
Glenmark Generics Limited services the requirements of the US and Western
Europe generics markets. The API business sells its products in over 80
countries, including the US, various countries in the EU, South America and
India.
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