Glenmark Pharmaceuticals announced that the 42nd Annual General Meeting (AGM) of the company will be held on 29 September 2020.

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The company's consolidated revenue increased by 0.94% to Rs 2,344.78 crore in the June quarter from Rs 2,322.87 crore in the corresponding period last fiscal. EBITDA (excluding other income) was at Rs 478.06 crore in the quarter ended 30 June 2020 as against Rs 341.91 crore in the previous corresponding quarter, registering an increase of 39.82%.

Glenmark's India Business grew by 3.68% year-on-year (YoY) to Rs. 779.89 crore, Europe Business grew by 12.77% YoY to Rs 273.87 crore, US Business grew by 1.61% YoY to Rs 742.64 crore and the API Business grew by 1.83% YoY to Rs 234.83 crore during the quarter. However, during the same period, Glenmark's ROW Business experienced de-growth of 18.05% the revenue fell to 212.01 crore in Q1 FY21 over Q1 FY20.

Glenn Saldanha, chairman & MD, Glenmark Pharmaceuticals, said: “It has been a challenging quarter across all markets due to the ongoing pandemic. Despite the difficult operating environment, we managed to record sales growth for the organisation. We focussed on controlling costs on all fronts and will continue with these efforts for the remaining part of the financial year.”

Glenmark Pharmaceuticals (GPL) is a global research-led pharmaceutical company with presence across generics, specialty and OTC business with operations in over 50 countries. The company's key therapy focus areas globally are respiratory, dermatology and oncology.

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Net profit of Glenmark Pharmaceuticals rose 132.47% to Rs 254.04 crore in the quarter ended June 2020 as against Rs 109.28 crore during the previous quarter ended June 2019. Sales rose 1.12% to Rs 2309.28 crore in the quarter ended June 2020 as against Rs 2283.60 crore during the previous quarter ended June 2019.

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Glenmark Pharmaceuticals announced that it will introduce a 400 mg version of oral antiviral FabiFlu®, for the treatment of mild to moderate COVID-19 in India. The higher strength will improve patient compliance and experience, by effectively reducing the number of tablets that patients require per day.

A higher pill burden has been associated with lower adherence to therapy, the latter affecting viral suppression and overall treatment outcomes. Also reducing the pill burden has been a demand from doctors and patients to enable adherence. The 200 mg dosage of FabiFlu® required patients to take 18 tablets on Day 1 (nine in the morning and nine in the evening), followed by 8 tablets each day thereafter for a maximum of 14 days. With the new 400 mg version, patients will now have a more relaxed dosage regimen, with 9 tablets required on Day 1( 4.5 in the morning and 4.5 in the evening), and thereafter 2 tablets twice a day from Day 2 till end of the course.

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