Glenn Saldanha, the company's CMD, said that the US market continued to witness a huge changing dynamic.
Glenmark Pharma will be soon launching new products in India, particularly in the diabetes and the respiratory segments, said Glenn Saldanha, CMD of the company, adding that the new products will be the drivers of the firm over the next 12-18 months.
"We see a very strong India business and what is exiting is we have some excellent product launches coming through in India particularly in the diabetes segment and in the respiratory segment. So we think these will be major growth drivers for us over the next 12-18 months for India," Saldanha said.
The Glenmark Pharma stock opened higher on November 14 but later moved lower. The management held a conference call earlier in which it detailed that four products in the complex generic pipeline have been discontinued.
Saldanha said that the US market continued to witness a huge changing dynamic. He added that pricing pressure has reduced on existing products while a lot of the new products’ approvals continue to remain challenging and with the number of players targeting the same product the competitive landscape is constantly changing.
“In the US we have grown the business quarter-over-quarter and we are expecting a good Q3 and Q4, we are expecting some strong approvals in Q3 and Q4. So you should see a better US generics business at least in the next two quarters for the overall business,” he added.
Source: CNBC-TV18
