Glenmark ‘Not Taking Foot Off Pedal’ In US But Q1 Was Tough
Glenmark reports challenging first quarter across key markets amid the pandemic, with US momentum impacted in part by pricing pressure in the dermatology segment. New product flows could restore uptick in that market, though US approval for rhinitis therapy Ryaltris is anticipated only in the second half of 2021.
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As the global generics industry had predicted, the unexpected growth seen in the first quarter of 2020 due to forward buying caused by COVID-19 levelled off in the second quarter. However, a few companies managed to report a “mixed” second quarter or a positive first half for 2020, even after experiencing challenges, such as operational interruptions, posed by the pandemic.
Glenmark has issued a forceful rebuttal over US price-fixing charges being pursued by the country’s Department of Justice covering drugs such as pravastatin.
Glenmark has received the go-ahead in India for its low-priced favipiravir product for mild to moderate COVID-19 under an accelerated approval process. While the firm says trial findings are in line with global data, with patients showing clinical improvements within the first seven days, social media is abuzz, with some physicians seeking greater clarity.