Glenmark Pharmaceuticals (GPL), the research-led global integrated pharmaceutical company, has achieved impressive financial performance during the fourth quarter ended March 2008. The company's consolidated net profit has taken a quantum jump of 252 per cent and touched to Rs 218.96 crore from Rs 62.20 crore in the corresponding period of last year. The consolidated net sales for the quarter increased by 64.2 per cent to Rs 572.70 crore from Rs 348.61 crore. Its earning per share worked out to Rs 8.81 as against Rs 7.95 in the last period.

GPL's revenues from generics business, Glenmark Generics Ltd (GGL), presently a subsidiary of GPL, increased to Rs 262.28 crore from Rs 121.48 crore, representing a growth of 115.9 per cent. The revenues of speciality business (including out licensing revenues) increased by 35.2 per cent to Rs 319.95 crore from Rs 236.68 crore. Its international revenues from sale of APIs to regulated and semi-regulated markets increased to Rs 28.32 crore from Rs 18.78 crore and its domestic sales of API's and co-marketing increased to s 30.77 croer from Rs 16.81 crore.

Glenn Saldanha, managing director and CEO, said, "We have posted good results with the Forest milestone this quarter and a good performance of our US business. We are also happy to take our biologics program forward with GBR 500 moving into Phase I trials. This is Glenmark's first NBE to enter the clinics from our pipeline of 13 NCEs and NBEs, and demonstrates our steady progress in the drug discovery space."

For the full year ended March 2008, the company's consolidated net profit went up by 103.6 per cent to Rs 631.26 crore from Rs 310 06 crore in the previous year. Its consolidated net sales crossed Rs 2000 crore mark and reached at Rs 2022.90 crore from Rs 1232.22 crore. The earning per share for the full year touched to Rs 25.81 as against Rs 12.99 in the last year.

The company received US$ 15 million as milestone payment from Forest Laboratories for Oglemilast, GRC 3886. It's DPPIV inhibitor, Melogliptin, GRC 8200, a treatment for Type II diabetes has completed phase II A studies and is currently undergoing phase IIB studies. The company plans to complete all phase II's on Monotherapy by the mid 2009 and would initiate phase III's by end of 2009. It has initiated discussions with other partners to out-license Melogliptin.