‘Painful’ Few Years In US For Glenmark But Rebound In Sight
API Business Up As Customers Look Beyond China
With price erosion seen ‘hitting the bottom’ in the US, Glenmark expects to make a strong comeback after some tough years in that market. Much will depend on product flow, including injectables, from the new Monroe site, with investors also keeping an eye on regulatory traction for rhinitis therapy Ryaltris.
You may also be interested in...
After seeing a spike in demand due to the coronavirus pandemic in Q1, with a corresponding dip in Q2, the generics industry has largely seen single-digit drops in net revenues in the third quarter of 2020. Meanwhile, the Indian pharma market has seen recovery after facing a challenging coronavirus-induced slump in the first two quarters of 2020.
Glenmark reports challenging first quarter across key markets amid the pandemic, with US momentum impacted in part by pricing pressure in the dermatology segment. New product flows could restore uptick in that market, though US approval for rhinitis therapy Ryaltris is anticipated only in the second half of 2021.
Glenmark expects its first US manufacturing site to go commercial next year, accelerating growth in that market, while it sets right certain compliance blips back home. The Indian firm is also on course to divest certain non-core assets but notes that bringing in a minority partner for its API unit is not a priority.