Glenmark Pharmaceuticals has registered marginal growth in net profit of 1.6 per cent during the year ended March 2012 to Rs.460 crore as against Rs.453 crore in the previous year. However, its consolidated net sales increased sharply by 36 per cent to Rs.4,021 crore from Rs.2,949 crore. Its revenue from generics increased by 36 per cent to Rs.1,641 crore from Rs.1,206 crore and speciality formulation business revenues moved up by 38 per cent to Rs.2,333 crore from Rs.1,686 crore.
The company recommended equity dividend of 200 per cent for the year ended March 2012.
Glenn Saldanha, chairman and managing director, said, “All our businesses registered strong growth for the year with the specialty and generics business growing in excess of 30 per cent. The US generic business continued its growth trajectory, recording 45 per cent growth and received 14 ANDA approvals in FY12. The India formulations business registered a growth of 19 per cent for the year while continuing to gain market share in focus segments.”
“FY12 was landmark year for our R&D business marked by the GBR 500, novel monoclonal antibody outliecensing deal with Sanofi. Besides, we have made significant progress in our R&D pipeline, which includes 6 NCE and NBE molecules in clinical trials,” he added.