Glenmark Chief Bullish Despite Generic Zetia's Poor US Start

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...

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