Street awaits fresh triggers for Glenmark Pharmaceuticals

Approvals to launch drugs in US, rebound in domestic growth, debt reduction key for upgrades

After Glenmark Pharmaceuticals reported a better-than-expected core performance for December quarter, its stock price firmed up. Ever since then, the share has given up most gains. For stock sentiment to improve, experts see the following as crucial: Approvals to launch drugs in the United States (US), rebound in domestic growth, and reduction in debt. 

Glenmark's strong US performance in December quarter was led by launch of anti-cholesterol drug Zetia on exclusivity basis, which also led to higher-than-estimated operating profit margin. In fact, only a few pharma companies have topped Street expectations on profitability in December quarter; peers such as Dr Reddy's