Glenmark Pharma Q3 Results Review— Regulatory Compliance Critical For Turnaround In U.S. Says ICICI Securities

Revival in US hinges on its ability to adhere with regulatory standards and timely approval of gFlovent and other assets. India biz revenue run-rate slowed down in Q3 FY25 and Glenmark's management now anticipates sales from India to grow at 9-10%..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Securities Report.Glenmark Pharmaceuticals Ltd.’s Q3 FY25 result was dragged by weak show in India, US and RoW markets. Management is hopeful of growing its US biz over FY26-28 led by gFlovent launch (H1 FY26) and 3 FTF product launches over FY27-28. Post instances of recall, U.S. Food and Drug Administration recently inspected Indore plant and issued five observations while Monroe is yet to be reinspected. Revival in US hinges on its ability to adhere with regulatory standards and timely approval of gFlovent and other assets. India biz revenue run-rate slowed down in Q3 FY25 and management now anticipates sales from India to grow at 9-10%. Management maintains FY25 revenue guidance of Rs 135–140 billion and margin of ~19% (after adjusting for currency headwinds). We cut FY25/26E EPS by 5-6% to factor in currency headwinds in RoW. Maintain Reduce with lower target price of Rs 1,265, based on 22x FY26E EPS. .Click on the attachment to read the full report:.Equitas Small Finance Bank — Navigating Through Uncertainty, Motilal Oswal Retains 'Buy' On The Stock .DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Glenmark Pharma Q3 Results Review— Regulatory Compliance Critical For Turnaround In U.S. Says ICICI Securities

The brokerage maintains 'Reduce' on Glenmark Pharma with lower target price of Rs 1,265, based on 22x FY26E EPS.

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