Glenmark Pharmaceuticals Ltd. Renews CRM Contract with Data3s in Two European Countries

Data3s, a leading provider of customer relationship management solutions for the life sciences, today announced that the Czech and Slovak offices of Glenmark Pharmaceuticals Ltd. have renewed their contract for CRM and related services for another three years.

"We renewed our contract because we are extremely satisfied with the quality of Data3s' products and services," said Jiří Havránek, General Manager of Glenmark Czech Republic and Slovakia.

Havránek cited the rapid and ongoing changes in the Czech and Slovak markets as the primary reason for expanding the contract to include even more products and services from Data3s, saying:

"While we are extremely satisfied with the modules we've had so far, we need more tools to help us improve our sales force effectiveness in a new and changing environment. This is why the renewal of the contract represents not just an extension of the previous contract, but an expansion into a whole new set of products and services."

Glenmark's extended contract provides a number of new offerings from Data3s, including an upcoming SaaS CRM solution for mobile devices (eluzzion Mobile) to be launched early next year, as well as extended applications for Clinical Trials, Key Account Management, and a fully-integrated Closed Loop Marketing platform for tablets.

"CRM is critical to our ability to maintain competitiveness in our markets," Havránek added, "and we are confident that Data3s will provide us with the best tools for our markets."

Speaking from Prague, Antonín Lukeš, CEO of Data3s, said, "This contract renewal was symbolically very important to us. Glenmark was among our first customers when we started out, and we greatly appreciate the confidence in our work that Glenmark has shown us. We will absolutely strive to continue to meet and exceed their high expectations."

Glenmark net falls on exceptional costs; Lupin sees profit rise

Glenmark Pharmaceuticals Ltd’s profit declined 36% in the September quarter because of a one-time royalty-related payment and a mark-to-market loss on some foreign currency loans.
Net profit fell to Rs. 55.80 crore in the three months ended September compared with Rs. 86.17 crore a year earlier, the company said.Total sales rose 46% to Rs.1,055.44 crore in the quarter after three of its business regions, including Latin America, contributed significantly to growth in the quarter.“Despite a challenging global environment, all our businesses registered strong revenue growth for the second quarter. Sales growth for the quarter has been around 30% due to good performance by the US, Latin America and the India business,” chief executive and managing director Glenn Saldanha said in a statement on Wednesday.Glenmark made a one-time payment of Rs. 131.68 crore during the quarter, while exercising its purchase option with respect to a royalty agreement it had with the US-based venture fund firm Paul Capital Partners’ Royalty Fund, related to a dermatology business acquisition in 2005. With the exercise of this option, Glenmark has no further obligation to pay royalties to the seller.Glenmark had also incurred a mark-to-market loss of about Rs. 85 crore on some foreign currency loans.While Glenmark’s net profit has taken a beating on the exceptional costs despite growth in overall sales, local rival Lupin Ltd has posted 24% growth in both sales and net profit during the September quarter. Lupin’s net profit during the quarter increased to Rs. 266.9 crore compared with Rs. 215 crore a year ago. Its sales grew at the same rate to Rs. 1,741 crore.Nilesh Gupta, group president and executive director, said all the regions including India, the US and Japan, where Lupin has a key market presence, have had an impressive contribution to the overall growth in profit and sales this quarter.The company also saved on the raw material usage and personnel expenses. In addition, the hedging policy of the company helped to overcome the impact of the currency fluctuation, said Gupta on Wednesday. Sales grew 22% in India, while it was 14% in Japan, he said.“This growth, especially the one that was contributed by the domestic business, however, seems under threat in the next two quarters as the government is likely to introduce the new pharmaceutical policy that will bring more drugs under the price-control regime,” said an industry analyst with a foreign brokerage, who spoke on condition of anonymity.The dependence of Glenmark and Lupin in the local market is less than 30%. “But the price-controlled regime in the domestic market may have a larger impact in the long term,” the analyst said.Lupin’s Gupta said the policy is definitely a negative development for the industry. But, it may not be as critical for his company since its focus will remain strong on the export markets.Lupin, which is expanding into Europe, has several products for approval in the US and Japan.Glenmark, which is also focused on drug discovery in a big way, expects income from this to rise.“Our drug discovery pipeline continues to progress further,” Saldanha said.Glenmark shares dropped 0.7% to close at Rs. 318.9 on Wednesday on BSE and Lupin lost 1.22% to close at Rs. 475. The benchmark Sensex shed 1.18% to 17,362.1 points.

Glenmark receives $25 mn from Sanofi as upfront payment

Glenmark Pharma today said its USD 613 million (over Rs 2,745 crore) outlicensing deal with Sanofi has been approved by the US authorities and has also received an upfront payment of USD 25 million (over Rs 110 crore) from the French drug-maker.

Last month Glenmark Pharmaceuticals SA, a wholly-owned subsidiary of Glenmark Pharmaceuticals, had outlicensed its novel monoclonal antibody ' GBR 500' aimed at treating digestive system disorders, to French drug-maker Sanofi for as much as USD 613 million.

"The GBR 500 deal signed by Glenmark in May 2011 with Sanofi has received clearance from the Hart-Scott-Rodino Antitrust Improvements Act, US," Glenmark said in a filing to the Bombay Stock Exchange (BSE).

Following that clearance, the deal has now become effective and Glenmark has also received the first upfront payment of USD 25 million, it added.

The Hart-Scott-Rodino Act provides the Federal Trade Commission and the Department of Justice with information about large mergers and acquisitions before they occur.

As per the deal, the Mumbai-based firm would receive an upfront payment of USD 50 million from Sanofi.

In addition, Glenmark could receive potential success- based development, regulatory and commercial payments at different intervals, the company had said earlier.

GBR 500 is currently undergoing early-stage human trials as a treatment for Crohn's disease (a form of inflammatory bowel disease), but is considered to have potential for treatment of other inflammatory conditions, such as multiple sclerosis and ulcerative colitis.

As per the deal, Sanofi will have exclusive marketing rights for products developed using GBR 500 in North America, Europe, Japan, Argentina, Chile and Uruguay, while it will co -market the products with Glenmark in Russia, Brazil, Australia and New Zealand.

Glenmark will retain exclusive marketing rights in India and other countries in the rest of the world.

The company has six different molecules under different stages of development, including GBR 401, GBR 600, GBR 900.

Glenmark had acquired GBR 500 and GBR 600 from a Canadian pharmaceutical company at the early stages of its development, he said.

Glenmark enters ten year marketing tie-up with IDC, Canada

Glenmark Pharmaceutical has entered into an exclusive arrangement with Immanence-IDC, a leading Canadian company for the distribution of their high-end anti-aging cosmeceutical range of products. The agreement will span across eight operating countries viz., India, Brazil, Mexico, South Africa, Egypt, Vietnam, Malaysia and Thailand. This will mark Glenmark's presence in this fast growing specialised dermatology segment which is growing at a rapid pace across emerging economies.

Arvind Vasudeva, COO, Glenmark, said, “This association marks a new beginning for us in one of the fastest growing segments in dermatology. With emerging economies registering good economic growth in the past decade, this niche segment has been witnessing a transformation and there is a significant need for these high-end products across our operating countries. The IDC cosmeceutical range of products are based on a solid scientific foundation and have been successfully launched in few countries. This association will enable us consolidate our leadership position in dermatology across operating branded generic markets.”

Dr Eric Dupont, chairman of the Board at Immanence-IDC, said, “This ten-year agreement with Glenmark will open new markets for us and through a network of more than 1.50 dermatologists, will allow us to reach more than 1.5 billion people. We are honoured that a global leader in dermatology has recognized the science and quality behind our anti-age care products, as well as our innovative approach.”

“The IDC line is already available in Canada and in France, and is sold in pharmacies and para-pharmacies (OTC pharmacies) that offer consultation services. With this strategic union, IDC will be available in over 12 countries, and he product range will be marketed to dermatologists and pharmacies. Our goal is to establish a presence in over 25 countries over the next two years.” affirmed Luc Dupont, president and CEO at Immanence-IDC.

Glenmark arm gets final USFDA nod for malaria tablet

Glenmark Pharmaceutical today announced that its US subsidiary Glenmark (Q,N,C,F)* Generics has received final approval from the USFDA for Atovaquone and Proguanil hydrochloride 250 mg/ 100 mg tablets, their generic version of GSK`s Malarone tablets.

GSK currently markets its product as Malarone in the United States indicated for the prevention and treatment of malaria. Total US sales as reported by IMS health for the 12 month period ending December 2009 were approximately USD 56 million.

In April 2010, the company confirmed the settlement of litigation pending between Glenmark and GSK over patents actions concerning Atovaquone and Proguanil hydrochloride 250 mg/ 100 mg tablets.

Glenmark gets US nod for ointment

India, Mumbai , July 31 Drug firm Glenmark Pharmaceuticals today said it has received approval from the US Food and Drug Administration (FDA) for an ointment used in treating skin problems.

The company had filed an abbreviated new drug application, which is for generic drugs only.

The company has got the approval through its US-based subsidiary Glenmark Generics Ltd and will launch the product in the US market immediately, Glenmark said in a filing to the Bombay Stock Exchange.

"Today&aposs approval (complements) Glenmark&aposs recent launch of Alcometasone Dipropionate cream and allows the company to provide superior service to their customers by offering complete line of Alclometasone topical products,"the filing said.

Alcometasone Dipropionate is a generic version of GSK&aposs Aclovate and the company will manufacture it at its US-FDA approved manufacturing facility in Baddi, Himachal Pradesh.

Glenmark Pharmaceutical continues to gain

Shares of Glenmark Pharmaceutical are trading at Rs 237.95, up Rs 16.35, or 7.38% at the Bombay Stock Exchange (BSE) on Monday at 11:23 a.m.

The scrip has touched an intra-day high of Rs 243.80 and low of Rs 225.05. The total volume of shares traded at the BSE is 600,199.

In the earlier session, the shares rose 8.57%, or Rs 17.5, at Rs 221.60.

Currently, the stock is trading down 67.4% from its 52-week high of Rs 730 and above 99.71% over the 52-week low of Rs 119.15.