1. Scrip
  2. >>Business
  3. >>Earnings

Glenmark Chief Bullish Despite Generic Zetia's Poor US Start

 
• By Anju Ghangurde

Glenmark Pharmaceuticals reported overall growth in the fourth quarter of 2016-17, but investors bludgeoned the company’s shares on concerns around the slow traction of generic Zetia in the US and a sharp decline in earnings on a sequential basis.

Eclipse
Ezetimibe's Weak US Launch Eclipsed Glenmark's Bullish Outlook • Source: Shutterstock

Shares of Glenmark Pharmaceuticals Ltd. were battered on Indian bourses on May 12, amid concerns over the slow pick-up in generic Zetia (ezetimibe) sales in the US and a sharp fall in profits in the fourth quarter ended March 2017 on a sequential basis. Glenmark and its partner, Endo, have 180 days of exclusivity for generic ezetimibe.

Glenmark’s chair and managing director, Glenn Saldanha, said that the US business had a “tough” fourth quarter where price erosion...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Earnings

Japan Results Roundup: Reduced Forex Impact, Uncertain US Tariff Outlook

 
• By Lisa Takagi

Most major Japanese firms report generally positive fiscal first quarter results, led by mainstay growth and despite lower currency effects. But the future impact of any US pharma tariffs remains an overhang.

S&E In Brief: Launch Updates And Political Headwinds

 
• By Sushmita Panda

Madrigal and Syndax update investors on their key launches, while Merck KGaA weighs in on the possibility of direct-to-consumer sales in the US.

Lupin Confident Of US Growth On Tariff Mitigation, Rides High On Tolvaptan

 
• By Vibha Ravi

Lupin is hoping moves like intellectual property transfer for some products to the US will help mitigate the tariff impact even as it counts on growth from planned launches of GLP-1s and biosimilars while riding high on tolvaptan launched in Q1.

Genmab/AbbVie’s Epkinly Likely To See Label Expansion After Phase III Win

 
• By Alaric DeArment

The FDA is expected to rule on the anti-CD20xCD3 bispecific combined with rituximab/lenalidomide in second-line follicular lymphoma in November.

More from Business

2030’s Top Therapies: Incretin Agonists Loom Large

 
• By Edwin Elmhirst

Scrip looks at the therapies projected to lead global sales by 2030. These frontrunners not only reflect advances in innovation but also shifting priorities in chronic disease management.

Lupin Confident Of US Growth On Tariff Mitigation, Rides High On Tolvaptan

 
• By Vibha Ravi

Lupin is hoping moves like intellectual property transfer for some products to the US will help mitigate the tariff impact even as it counts on growth from planned launches of GLP-1s and biosimilars while riding high on tolvaptan launched in Q1.

Quick Listen: Scrip’s Five Must-Know Things

 
• By Ian Haydock

In this week's episode: Trump ups pressure on MFN pricing; Pfizer says pharma working with Trump on direct sales; Sanofi says direct sales worth considering: Aurigene Oncology CEO on biotech valuations and more; and Novartis progresses pipeline-in-a-product assets.