Do More With Reuters
Partner Services

Glenmark Pharma April-June net seen jumping 80 pct

Thu Jul 24, 2008 5:54pm IST
 
Email | Print | | Single Page
[-] Text [+]

By Bharghavi Nagaraju

MUMBAI (Reuters) - Drug maker Glenmark Pharmaceuticals Ltd is expected to report an 80 percent surge in quarterly net profit driven by higher sales in the United States, analysts said on Thursday.

The Mumbai-based firm is forecast to post net profit of 1.03 billion rupees on a 37 percent jump in revenues to 4.8 billion rupees for April-June, according to a Reuters poll of analysts.

"Their base business is strong. Contribution from their European acquisition, Medicamenta, will be better this quarter," said Alok Dalal, senior pharma analyst with Religare Research.

Glenmark, which is into new drug research and makes specialised finished dosages, bought the Czech Medicamenta last year to gain presence in the Czech Republic and Slovakia.

Increased drug formulations exports to the U.S. is likely to expand margins, brokerage IL&FS Investsmart said in a note.

U.S. sales is expected to be boosted by the launch of anti-hypertension drug trandolapril, mometasone furoate skin ointment and cream, clobetasol skin products and diabetes drug metformin HCL, the IL&FS note said.

In April, the company's managing director, Glenn Saldanha, forecast a 34 percent rise in FY09 net profit to $210 million on revenue of $673 million as it seeks to license out four of its experimental molecules.

Glenmark, one of a handful of Indian companies working on developing new drugs, expects to earn $69 million in milestone payments, or fees paid for the progress in the development of a lead molecule.  Continued...

Russian Finance Minister Alexey Kudrin poses with his G20 colleagues and central bank leaders during the family photo at the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland. REUTERS/POOL New
Pledge to support economies

G20 financial leaders pledged to prepare strategies to end emergency support for their economies, but to keep the aid flowing until recovery was assured.  Full Article | Related Story 

special coverage

Photo
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.  Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

SHOWCASE

Sanjay Sinha
Balancing Act

In India, it is a tough choice between growth, managing inflation and financial stability.  Full Article 

 
Nipun Mehta
Road to Recovery

There needs to be an acceptable balance created between education and healthcare and infrastructure spend, says Nipun Mehta of SG Private Banking.   Full Article 

 
Robot Asimo

Snapshots of Honda Motor's humanoid robot Asimo  Slideshow 

 
Marketing Strategy
Marketing Strategy

Companies are now using direct marketing methods to sell their products.  Full Article 

 
Exit Plans
Exit Plans

Factbox - Stimulus exit plans for Asia-Pacific's big 5 economies  Full Article