Multibagger pharma stock that has a presence across Branded pharmaceuticals, Generics, and OTC segments in green after it becomes the first company to launch a Biosimilar of a Popular Anti‐Diabetic Drug in India that would cut down the therapy cost by 70 percent.
At 11:25 a.m the shares of Glenmark Pharmaceuticals Limited were trading at Rs. 892.60, up 0.63 percent from its previous day’s close price of Rs. 888.80 and its market capitalization is Rs. 25,172 Crores. It has delivered multi-bagger returns of 106 percent in a year.
Glenmark Pharmaceuticals Limited became the first company to launch a Biosimilar of a Popular Anti‐Diabetic Drug, Liraglutide. It was launched under the brand name Lirafit which is indicated for improving glycemic control in adult patients with type 2 diabetes mellitus.
Lirafit will sharply lower the daily cost of therapy by around 70 percent to around Rs100, making the drug more accessible to a larger number of patients with type 2 diabetes mellitus in the country.
The company’s revenue from operations grew 5.57 percent from Rs. 12,304.9 Crores in FY22 to Rs. 12,990.11 Crores in FY23, accompanied by profits of Rs. 941.71 Crores to Rs. 297.25 Crores.
It has reported a return on equity (ROE) of 4.07 percent and a return on capital employed (ROCE) of 9.17 percent, it is making decent returns on its equity and capital employed, as there has been no growth in its profitability over the years.
Glenmark Pharmaceuticals Limited is a research‐led, global pharmaceutical company, having a presence across Branded, Generics, and OTC segments, with a focus on therapeutic areas of respiratory, dermatology, and oncology.
Written by: Bharath K.S
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