The Glenmark Pharmaceuticals stock has declined nearly 6 per cent since the September quarter results given the lack of short-term triggers and high debt on its books. The discontinuation of some complex molecules that could have been potential growth drivers was a negative for the Street. The worry is on the pricing erosion in the US market.
While US sales grew 15.1 per cent sequentially, driven by the launch of limited competition products, gains were higher due to a strong dollar. US sales grew 11.4 per cent on a year-on-year basis. However, in constant currency terms, sales were ...
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