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...
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