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Glenmark Pharmaceuticals inks pact with Canada's Immanence IDC

16 Nov 2011 Evaluate

Glenmark Pharmaceuticals has signed a ten-year pact with Canada's Immanence IDC to sell dermatology products in eight countries, including India. Brazil, Mexico, South Africa, Egypt, Vietnam, Malaysia and Thailand are the other countries where the company will sell the products. By the end of FY12, Glenmark Pharmaceuticals plans to rollout the product in most of these countries.

Glenmark Pharmaceuticals, a leader among the emerging market companies in drug discovery and development and most of its active substances in the pipeline are first-in-Class. Glenmark’s achievements over the year include a major deal with Sanofi in Crohn's disease, completing Phase II trials of its first novel product, crofelemer and demonstrated higher sales and profit growth.

The company’s net profit for the quarter ended September 30, 2011 has increased 14.23% at Rs 31.46 crore as compared to Rs 27.54 crore for the corresponding quarter of the previous year. The company’s total income has surged 48.22% at Rs 383.67 crore for the second quarter of the current fiscal from Rs 258.86 crore for the corresponding quarter of the previous year.

Glenmark Pharma Share Price

2364.35 -6.70 (-0.28%)
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