Mumbai, India, May 29, 2018
Glenmark Pharmaceuticals Limited, a research-led global integrated
pharmaceutical company, today announced its financial results for the fourth quarter and year ended
March 31, 2018.
For the fourth quarter ended March 31, 2018, Glenmark’s consolidated revenue was at Rs. 22,798.16 Mn.
(USD 354.67 Mn.) as against Rs. 24,571.83 Mn. (USD 367.20 Mn.), recording a decrease of 7.22%.
Consolidated Net Profit was at Rs. 1,516.27 Mn. for the quarter ended March 31, 2018 as compared to
Rs. 1,837.61 Mn. in the previous corresponding quarter, registering a decrease of 17.49%.
Consolidated EBITDA grew by 0.98% to Rs. 3,963.87 Mn. in the quarter ended March 31, 2018 as against
Rs. 3,925.56 Mn. in the previous corresponding quarter.
For the year ended March 31, 2018, Glenmark’s consolidated revenue was at Rs. 91,030.70 Mn. (USD
1,413.68 Mn.) as against Rs. 91,856.81 Mn. (USD 1,371.62 Mn.), a decrease of 0.90% over the previous
corresponding period.
Consolidated Net Profit was at Rs. 8,038.70 Mn. for the year ended March 31, 2018, as against Rs.
11,087.53 Mn. in the previous year, a decrease of 27.50%. Consolidated EBITDA declined by 17.71% to
Rs. 17,067.73 Mn. in the year as against Rs. 20,740.65 Mn. in the previous corresponding period.
The board has recommended a dividend of Rs. 2.00 per equity share for the financial year ended March
31, 2018.
“While FY 2018 was a challenging year mainly on account of pricing pressure in the U.S., our other key
markets like Europe and India performed well on the back of new product launches. Even though we expect
pricing pressure to persist, we are glad that FY 2019 has started on a positive note for us with approvals
for some interesting products in the U.S.,” said Glenn Saldanha, Chairman & MD, Glenmark
Pharmaceuticals Limited. He further added, “We recently filed our first New Drug Application (NDA) for
Ryaltris in the U.S, which is a milestone in Glenmark’s journey and marks our first step towards the
transition to a specialty and innovative drugs company. We believe our strong R&D pipeline of novel assets
will help propel growth in the long run.”
India Formulations
Sales for the formulation business in India for the fourth quarter ended March 31, 2018, was at Rs.
6,086.70 Mn. (USD 94.70 Mn.) as against Rs. 5,769.32 Mn. (USD 86.22 Mn.) in the previous corresponding
quarter, recording a growth of 5.50%.
As per IQVIA MAT March 2018 data, Glenmark is the 2nd fastest growing pharmaceutical company in India
(among the top 20 companies) and has 8 brands among the ‘Top 300 Brands in the Indian Pharmaceutical
Market’. The company further strengthened its presence and market share in its key therapy areas of
cardiology, dermatology and respiratory during the fiscal year 2017-18.
USA Formulations
Glenmark Pharmaceuticals Inc., U.S.A’s finished dosage formulations sales was at Rs. 6,995.59 Mn. (USD
108.87 Mn.) for the quarter ended March 31, 2018 as against Rs. 10,004.46 Mn. (USD 149.51 Mn.) in the
previous corresponding quarter, recording a decrease of 30.08%. The sales are not comparable to the
corresponding quarter of the previous financial year as Glenmark through its partner Endo had launched
Ezetimibe, a generic version of ZETIA® (Merck) in the U.S. in December 2016 and was entitled to an
exclusivity on the product.
In fiscal year 2017-18, Glenmark was granted approval for 21 Abbreviated New Drug Applications (ANDA),
comprising 18 final approvals and 3 tentative approvals. As of March 31, 2018, Glenmark’s marketing
portfolio consists of 131 generic products authorized for distribution in the U.S. market. The company
currently has 62 applications pending in various stages of approval process with the U.S. FDA, of which
28 are Paragraph IV applications.
Europe Formulations
Glenmark Europe’s revenue for the fourth quarter ended March 31, 2018 was at Rs. 3,189.56 Mn. (USD
49.59 Mn.) as against Rs. 2,297.80 Mn. (USD 34.33 Mn.), recording an increase of 38.81%. The European
subsidiary’s strong performance during the quarter was driven by new product launches in key markets.
About Glenmark Pharmaceuticals Ltd.:
Glenmark Pharmaceuticals Ltd. (GPL) is a research‐driven, global, integrated pharmaceutical organization headquartered at
Mumbai, India. It is ranked among the top 80 Pharma & Biotech companies of the world in terms of revenue (SCRIP 100
Rankings published in the year 2016). Glenmark is a leading player in the discovery of new molecules both NCEs (new chemical
entity) and NBEs (new biological entity). Glenmark has a diverse pipeline with several compounds in various stages of clinical
development primarily focused in the areas of oncology, respiratory disease, and dermatology.
Glenmark has improved the lives of millions of patients by offering safe, affordable medications for nearly 40 years. The
company has a significant presence in the branded generics markets across emerging economies including India. The Generics
business of Glenmark services the requirements of the US and Western European markets. The API business sells its products
in over 80 countries including the US, EU, South America and India. GPL along with its subsidiaries operate 17 manufacturing
facilities across four countries and has five R&D centers globally. For more information visit www.glenmarkpharma.com.
For further information, please contact:
Isha Trivedi / Ramkumar Uppara
Tel: [+91 22] 4018 9801
Email: corpcomm@glenmarkpharma.com
