MUMBAI, India, October 30, 2014 /PRNewswire/ --
Net Profit for the second quarter increases by 7% to
Rs 1650.78 Mn
Business Highlights
- India Business grew by 14.48 % to Rs. 4,781.50 Mn
- Latin America Business grew by 139.01 % to Rs. 2,308.80 Mn
- Europe Formulations Business grew by 25.06% to Rs.
1,305.53
- API Business grew by 57.85 % to Rs. 1,595.44
Glenmark Pharmaceuticals Limited, the research-led global
integrated pharmaceutical company, today announced its results for
the second quarter ended September 30,
2014.
(Logo:
http://photos.prnewswire.com/prnh/20130626/625083 )
For the second quarter ended September
30, 2014, Glenmark's consolidated revenue was at Rs.
16,807.08 Mn (USD 277.50 Mn) as
against Rs. 14,633.80 Mn (USD 235.68
Mn) an increase of 14.85%.
The consolidated Net Profit for the second quarter was
Rs 1650.78 Mn as compared to Rs.
1542.97 Mn for the previous corresponding quarter, recording
an increase of 7%. Consolidated EBITDA grew by 6% to Rs. 3352.22 Mn
from Rs. 3156.81 Mn in the quarter.
"Despite the challenging environment, we have
performed well across geographies viz India, Europe and LatAm. The environment
continues to be tough especially in the US where product approvals
have slowed down considerably and the channel consolidation
has impacted overall sales," said Glenn Saldanha, Chairman & MD, Glenmark
Pharmaceuticals Limited. "We have made
significant progress in our innovation pipeline, the highlight
being the discovery and the Initiation of IND enabling Studies of
GBR 1302, the first bispecific antibody based on
Glenmark's proprietary BEAT platform and our first
clinical candidate targeting oncology
indications;" he added.
For the six month ended Sep 30,
2014, Glenmark's consolidated revenue was at Rs. 31,676.48
Mn as against Rs. 27,016.23 Mn, an increase of 17.25% over the
previous corresponding period.
India Formulations
Sales for the formulation business in India for the second quarter ended
September 30, 2014, was at Rs.
4,781.50 Mn (USD 78.98 Mn) as against
Rs. 4,176.80 Mn (USD 67.51 Mn) in the
previous corresponding quarter, recording a growth of 14.48%.
USA
Formulations
Glenmark Generics Inc., U.S.A.
registered revenue from sale of finished dosage formulations was
Rs. 5,075.51 Mn (USD 83.76 Mn) for
the quarter ended September 30, 2014
against revenue of Rs. 5,578.60 Mn (USD
90.09 Mn) for the previous corresponding quarter.
Africa, Asia and CIS Region (ROW)
For the second quarter, revenue from Africa, Asia
and CIS region was Rs. 1,740.30 Mn (USD
28.67 Mn) as against Rs. 1,739.65 Mn (USD 26.70 Mn) for the previous corresponding
quarter.
Europe Formulations
Glenmark Europe's operations revenue for the second quarter
ended September 30, 2014 was at Rs.
1,305.53 Mn (USD 21.57 Mn) as against
Rs. 1,043.90 Mn (USD 16.97 Mn)
recording growth of 25.06%.
Latin America
Glenmark's revenue from its Latin American and Caribbean operations was at Rs. 2,308.80 Mn
(USD 38.21 Mn) for the second quarter
ended September 30, 2014 as against
Rs. 966.00 Mn (USD 15.50 Mn),
recording an increase of 139.01%.
Active Pharmaceutical Ingredients (API)
Revenue from sale of API to regulated and semi-regulated markets
globally was Rs. 1,595.44 Mn (USD 26.34
Mn), for the quarter ended September
30, 2014 against Rs. 1,010.75 Mn (USD
16.92 Mn) for the previous corresponding quarter, recording
an increase of 57.85%.
About Glenmark
Glenmark Pharmaceuticals Ltd. (GPL) is a research-driven,
global, integrated pharmaceutical company and ranked among the top
80 Pharma & Biotech companies of the world in terms of revenues
as per SCRIP 100 Rankings. Glenmark is a leading player in the
discovery of new molecules both NCEs and NBEs. Glenmark has several
molecules in various stages of clinical development and primarily
focused in the areas of Inflammation, Pain and Oncology. The
company has significant presence in branded formulations across
emerging economies including India. Its subsidiary, Glenmark Generics
Limited services the requirements of the US and Western Europe markets.