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Motilal Oswal Report
Glenmark Pharmaceutical Ltd. delivered marginally lower-than-expected earnings in Q4 FY21, led by subdued growth in the domestic formulation segment, flat rest of world sales, and decline in the Latin America business.
However, the outlook in the domestic formulation segment remains promising, aided by Covid-19 drugs.
The Europe business is expected to deliver healthy growth on the back of niche launches and recovery in the base business, with the easing of lockdown restrictions.
The company intends to reduce net debt through free cash flow from its core operations as well as fund raising via the Glenmark Life Sciences initial public offering.
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