Glenmark’s consolidated revenue increases by 20.08% for Q1

Glenmark Pharmaceuticals announced its results for the first quarter ended June 30, 2014


Mr Glenn Saldanha, CMD, Glenmark Pharmaceuticals

Its consolidated revenue was at Rs 14,869.40 Mn ($248.61 Mn) as against Rs 12,382.43 Mn ($221.91 Mn) in the corresponding quarter, recording a growth of 20.08 percent.

Consolidated EBITDA grew by 38.16 percent to Rs 3423.32 Mn from Rs
2477.82 Mn in the quarter.

The consolidated Net Profit was at Rs 1848.46 Mn for the quarter
ended June 30, 2014 as compared to Rs 1286.76 Mn for the previous corresponding quarter registering an increase of 43.65 percent.

"We have delivered strong results backed by good performances by our India, rest of the world, Europe and LATAM businesses. While we outperformed in the Indian pharmaceutical market with a growth of over 20 percent, our rest of the world business led by Russia and LATAM operations bounced back strongly in this quarter with growth rates of over 20 percent and 30 percent respectively," said Mr Glenn Saldanha, CMD, Glenmark Pharmaceuticals.

"We have been making steady progress in our innovation pipeline and now have three first-in-class monoclonal antibodies (mAb) in clinical development. It is encouraging to note that very few companies around the world have three first-in-class mAbs in clinical development. The inauguration of a new monoclonal antibody manufacturing facility in Switzerland was an important development during this quarter, which now gives us end-to-end capabilities for the discovery and development of novel monoclonal antibodies," he further added.


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