Ichnos Capital Raise Key For Glenmark, BEAT Platform A Core Value Driver
Q3 Favipiravir Revenues Dive But Remogliflozin Strong
All eyes are on a fundraising plan by Glenmark’s US innovation spin-out Ichnos, with management signaling that its proprietary BEAT platform will be the biggest value driver rather than any individual pipeline asset. The company's India business rang in a strong Q3, with remogliflozin and combinations expected to emerge as a significant franchise.
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With price erosion seen ‘hitting the bottom’ in the US, Glenmark expects to make a strong comeback after some tough years in that market. Much will depend on product flow, including injectables, from the new Monroe site, with investors also keeping an eye on regulatory traction for rhinitis therapy Ryaltris.
Fujifilm Toyama’s favipiravir may be relatively late on the Indian market,but local partner Dr Reddy’s believes that the large amount of safety data and superior shelf life of the product will hold it in good stead amid heightened competition. Local manufacturing could also help Dr Reddy’s pare the price differential with other versions.
Glenmark’s innovation spin-out initiates efforts to raise capital in the US, unfazed by mixed top-line results for its investigational atopic dermatitis treatment. Its parent firm has underscored the value proposition of the oncology franchise and proprietary bispecific antibody technology platform.