CC Wealth Ltd Tracks Glenmark Pharmaceuticals Ltd
Online, May 13, 2014 (Newswire.com) - For an Indian drug maker, Glenmark Pharmaceuticals Ltd is quite unique amongst its peers. The Mumbai base company has remained separate from the manufacture of generic medications, a staple for pharmaceutical manufacturers on the Sub Continent, concentrating instead on the biologic approaches that medicine can provide in the treatments of long term ailments including Ulcerative colitis.
The drug developed by Glenmark to combat Ulcerative Colitis, earned the Indian company $200 million after the sale of production and distribution rights to Paris based giant Sanofi, with the drug expected to hit the market in early 2017. The Indian company is in additional talks with Sanofi and U.S drug manufacturers in regards to pain and inflammation medications already developed.
"Glenmark has taken what to many would seem a rather high risk path in the drug world; developing biologic treatments as their core business without relying on the day to day generic market which is a staple in India, instead allowing that business to be handled by a separate division Glenmark Generics Ltd. They also prefer that their treatments undergo testing in European and American systems ahead of launch, giving greater assurances of successful adoption" outlined Dr. Meredith Coatley, Medical and Pharmaceuticals Advisor at CC Wealth Ltd.
Glenmark's shares traded up following the announcement that their treatments may be on sale in major Western markets in 2017, though share prices have failed to keep pace with S&P BSE India Healthcare Index as many investors await news of follow on contracts for the drug maker. ROI for Glenmark shares stands at 4.44%
"Over the course of the next 12 to 18 months we can expect to see additional gains by Glenmark as confirmation of additional deals are release and quite a large rise associated with the release to market of their ulcerative colitis treatment by Sanofi in about 24 months. Until then gradual and slight gains are going to be the norm for the company" ended Dr. Meredith Coatley of CC Wealth Ltd.
http://www.bloomberg.com/news/2013-12-24/glenmark-goes-west-for-250-billion-drugs-opportunity.html
http://www.bloomberg.com/quote/GNP:IN