Glenmark Q1 net at Rs 232.99 crore
The results are not comparable to the corresponding quarter of the previous year, as Glenmark through its partner Endo had launched Ezetimibe, a generic version of ZETIA in the US in December 2016 and was entitled to an exclusivity on the product, the company said.
Commenting on the first quarter performance, Glenmark Pharmaceuticals Chairman and Managing Director Glenn Saldanha said it was impacted by persisting pricing pressure and a high base of last year in the US market.
"However, other geographies performed well, particularly Europe, driven by new product launches,” he added.
The company said it has a pipeline of seven new molecular entities (NMEs), which includes two new chemical entities (NCEs) and four new biological entities (NBEs) and a biosimilar candidate, in various stages of clinical development focused in the therapeutic areas of oncology, respiratory and dermatology.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)