India's Glenmark Pharmaceuticals began this new fiscal year with an outlook of a turnaround in its U.S. fortunes that experienced a slowdown in the just-ended FY 2015. The days-old $25 million settlement of U.S. Medicaid fraud allegations did not figure in the analysts' estimates of company prospects.
Analysts that India's Business Standard cited a pipeline of drugs with little competition, plus a wealth of more than two dozen branded generics under review by the U.S. FDA for possible market approval.
Add to that, some said, the fact that one of those generics--a version of Merck's ($MRK) Zetia (ezetimibe) anticholesterol drug--is set to launch within the next two years with exclusive marketing rights from the Merck Sharpe & Dohme subsidiary. Some estimates put potential sales for the Zetia generic at $240 million in FY 2017.
Elsewhere in the world, they said, Glenmark could count on its asthma and cancer drugs in the major developing markets of Brazil, Mexico and Russia as major revenue producers.
Glenmark also has 7 molecules in its pipeline of innovative drugs in or set for trials, an aspect of its business on which it invests 3.5% of its revenues.
- here's the story from Business Standard