Glenmark’s Consolidated Revenue Increases by 19.83% to Rs.10,404.07 Mn for Q1 FY 12-13

MUMBAI, August 2, 2012 /PRNewswire/ --

• Specialty Formulations Business Excluding Out-licensing Income Grew by 22.85 % to Rs. 5046.45 mn for the Quarter
• India Formulations Business Recorded a Growth 24.14 % for the Quarter
• Generics Business Registered Sales Growth of 57.67% to Rs. 5300 mn in Q1 FY 12-13
• US Generics Business Grew by 56.22 % for the Quarter

Glenmark Pharmaceuticals Limited (GPL), the research-led global integrated pharmaceutical company announced its first quarter results for the period ending June 30, 2012.

For the first quarter ended June 30, 2012, Glenmark's consolidated revenue was at Rs. 10404.07 Mn [USD 190.62 Mn] as against Rs. 8682.54 Mn [USD 191.75 Mn], an increase of 19.83 % in Rs. term. Revenue from the generics business was at Rs. 5300.00 Mn (USD 97.11 Mn), as against Rs. 3361.55 Mn (USD 74.24 Mn), a growth of 57.67 % in Rs. term. The Speciality formulation business revenue (ex-licensing revenue) was at Rs. 5046.45 Mn (USD 92.46 Mn) as against Rs. 4107.65 Mn (USD 115.28 Mn) for the corresponding previous quarter, recording a growth of 22.85 % in Rs. term

Net Profit for the quarter ended June 30, 2012 was Rs. 782.75 Mn as compared to Rs. 2085.85 Mn for the previous corresponding quarter. The Net profit for the quarter is not comparable due to out-licensing income of Rs. 1112.34 million received in the previous corresponding quarter i.e Q1 FY 2011-12 and also due to MTM losses to the extent of Rs 550 million recorded in this quarter Q1 FY 2013.

"Both our generics and specialty business registered good growth," said Glenn Saldanha, Chairman & MD, Glenmark Pharmaceuticals Limited. "The US business did exceptionally well recording a growth in excess of 55% on the back of product launches in niche competition categories; while the India business performed well and gained market share in focus segments. We are witnessing good growth in our businesses across geographies and are confident of maintaining this trajectory in the coming quarters."

Speciality Formulations

Sales for the formulation business in India for the first quarter ended June 30, 2012, increased to Rs. 2797.88 Mn [USD 51.26 mn] as compared to Rs. 2253.82 Mn [USD 49.78 Mn] in the previous corresponding quarter, recording a growth of 24.14 %

For the first quarter, revenue from Africa, Asia and CIS region was Rs. 1384.40 Mn [USD 24.71 Mn] as against Rs. 1046.78 Mn [USD 23.12 Mn] for the previous corresponding quarter, recording an increase of 28.81 %.

Generics Business

Glenmark Generics Inc., U.S.A. registered revenue from sale of finished dosage formulations of Rs. 3923.58 Mn (USD 71.89 Mn) for the first quarter of FY 2012-13 against revenue of Rs. 2511.58 Mn (USD 55.47 Mn) for the first quarter of the previous year, an increase of 56.22 % in Rs. term over the corresponding quarter of the previous year. Revenue from sale of API to regulated and semi-regulated markets globally was   Rs. 1004.71 Mn [USD 18.41 Mn] for the First quarter of FY 2012-13 against Rs. 645.63  Mn [USD 14.26 Mn], for the first quarter of the previous year, recording an increase of 55.62 % in Rs. term.

About Glenmark Pharmaceuticals

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*.

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 13 manufacturing facilities in four countries and has five 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.                                                                                           

* SCRIP 100 Rankings published in the year

Primary Media Contact : Glenmark Pharmaceuticals Ltd., corpcomm@glenmarkpharma.com, 91-22-40189999