Need to be cautious on Glenmark amid negative news flow: Miintdirect.com

In a chat with ET Now, Avinnash Gorakssakar, Head of Research, Miintdirect.com, shares his views on Glenmark. Excerpt:

ET Now: Small blemish on Glenmark but the pharma space has been strong. How have you viewed the news on Glenmark?

Avinnash Gorakssakar: It is clearly a bad news for Glenmark until we do not know what would be the material impact. Of late, we have been hearing a lot of negative regulatory news flow for most of the pharma companies.

Hence, if this is not going to be a very material impact, then my sense is that the third quarter numbers would do the talking.

With a very robust kind of product pipeline and with a very strong US market, Glenmark should do well. I would not suggest investors to sell off but I would presume that one should be little cautious because if any further news flow on this front does come in the very short term, then it could possibly impact the stock negatively.