Executive Summary

Glenmark’s planned launch of its generic of GlaxoSmithKline’s (GSK’s) Seretide Accuhaler (fluticasone/salmeterol) dry-powder inhaler in Germany has been thwarted by an injunction, a setback that the Indian firm insists will not have a “material impact” on either its European or group operations. “In the last two to three days, GSK was able to get a preliminary injunction in Germany,” chairman and managing director Glenn Saldanha told investors during Glenmark’s second quarter earnings conference call, “which we are trying to vacate as we speak.” It was a trademark issue, he revealed, noting that the injunction did not pertain to a patent.