Glenmark aims to maintain FY22 margin at 19%; expects new launches to aid growth trajectory

During the last couple of quarters, Glenmark Pharmaceuticals has been the fastest growing company among the top-20 companies, said VS Mani, Executive Director and Global CFO at Glenmark Pharmaceuticals, in an interview with CNBC-TV18.

He expects the nitric oxide to do well. “That is preventive in nature and it ensures you can use the nasal spray and go for outdoor duties. Somewhere in Q3FY22, mainly in the month of October or so, we should see that being launched,” he said.

Glenmark reported earnings for the June-ended quarter. India growth adjusted for COVID-19 is at around 12-13 percent but the company says that they have seen a bit of an increase in price erosion in the US.

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“During the last 2 quarters, we have been one of the fastest growing companies in India. We will continue to show that kind of good trajectory on the back of some very good launches that we expect, going forward. Even without the COVID-19 drugs, we have been growing about 13-14 percent, we expect to grow at those levels,” he said.

“We expect to grow at 10 percent in the US. We are having about 10-12 launches coming up during the current year. In terms of price erosion, there is a kind of mid-single digit price erosion but our overall portfolio is diversified and therefore the risk is well distributed,” he added.

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He expects to see growth of about 15-20 percent in the long-term. “We should see a growth of about 15-20 percent and a very decent set of margins,” he said.

“Current year, we expect to grow at around 10-15 percent. We hope to maintain our margins at 19 percent. As we go along, we will continue doing the good work, we should see improvement in the margins as well,” he shared.