Revenue from the generics business, Glenmark Generics Ltd (GGL) increased by 87.4 per cent to Rs 240.60 crore from Rs 128.38 crore in the corresponding period of last year. The revenues from speciality business, including out licensing revenues, declined marginally by 2.3 per cent to Rs 225.85 crore from Rs 231.05 crore due to the decline in primary sales for the Latin America, Africa, Asia and CIS region. The secondary sales growth in these markets continues to be strong above 40 per cent as per third party data sources.
Revenues from sale of API to regulated and semi-regulated markets globally was Rs 21.04 crore in first quarter of 2008-09 as against Rs 19.67 crore in the similar period of last year. Further, revenue from the domestic API and co-marketing business amounted to Rs 21.57 crore as compared to Rs 19.67 crore in the last period.
The sales of formulation business in India increased by 11.6 per cent to Rs 142.86 crore from Rs 128.06 crore in the corresponding period of last year. The India formulations division launched 12 new products during the quarter. The business made a strong comeback in the pain segment with its product Flexilor, which not only registered strong sales growth but also emerged as the leader in this particular molecule segment.
Presently, the company has a pipeline of 13 NCE and NBE molecules. Five are in clinics, four in pre-clinical and four are in the discovery stage.
Glenmark Generics Inc. USA, posted revenue of Rs 190.88 crore for the first quarter of FY2009 against revenue of Rs 82.62 crore, representing a growth of 131 per cent.