Glenmark’s Glenn Saldanha seeks a new holy grail as generic drugs run dry

Glenmark’s Glenn Saldanha seeks a new holy grail as generic drugs run dry Generics industry will see patent expirations drop after 2018 Firms try innovation, deals as competitive pressures rise Sixteen years ago, Glenn Saldanha took over his father’s business making copycat versions of novel medicines and added a side bet of his own: Instead of just imitating old drugs, his family firm would try to innovate completely new ones too. Investors complained, competitors were mystified and Saldanha’s father was skeptical. Nevertheless, Saldanha pressed ahead in the painstaking trial and error process of new drug discovery. Now he says his Read More


Glenmark posts Rs 184 crore net profit in Q4; earnings below analyst estimates

Glenmark posts Rs 184 crore net profit in Q4; earnings below analyst estimates The profits were impacted due to an Rs 81 crore exceptional item, high expenses and decline in sales across Europe, Latin America, and other markets. The expenses shot up 13.6 percent to Rs 2152 crore on sequential basis. Glenmark Pharmaceuticals on Thursday posted a 23 percent increase in net profit for the fourth quarter of FY17. This uptick was largely aided by the exclusivity of generic cholesterol lowering drug Zetia, though overall the earnings were much below street estimates. On a year-on-year basis, Glenmark’s net profit rose Read More


Glenmark Pharma: A Healthy Dose Of Growth

Glenmark Pharma: A Healthy Dose Of Growth Glenmark, which has graduated to a global organisation in a very short span with its expanded manufacturing footprint, international operations and global employee base, reported a 276.08 per cent rise in revenue since 2012 The company that emerged as India’s third fastest growing company in the Rs 5,000 crore to Rs 9,999 crore turnover category in BW Businessworld’s Fastest Growing Companies list 2017, says its strategic roadmap is completely synergised with its business, and its aim is to move up the value chain to become an innovation-led company with a solid foundation in Read More


Glenmark set to seek FDA nod for new nasal spray in FY18

Glenmark set to seek FDA nod for new nasal spray in FY18 Glenmark Pharmaceuticals announces positive results from phase-III clinical trials conducted in the US for the nasal spray Mumbai: Glenmark Pharmaceuticals Ltd will file a new drug application with the US drugs regulator for its nasal spray to treat seasonal allergic rhinitis—commonly known as hay fever—in the year starting 1 April, chairman and managing director Glenn Saldanha said. The Mumbai-based pharma major on Thursday announced positive results from phase-III clinical trials conducted in the US for the nasal spray containing a fixed-dose combination of 25 mcg mometasone furoate and Read More


Positive phase 3 data on GSP 301; USD 100m opportunity for co: Glenmark

Positive phase 3 data on GSP 301; USD 100m opportunity for co: Glenmark Glenmark Pharma reports positive results from a phase 3 trial of GSP 301, a fixed-dose combination nasal spray. Glenmark Pharma reports positive results from a phase 3 trial of GSP 301, a fixed-dose combination nasal spray. In an interview to CNBC-TV18, Glenn Saldanha, CMD of Glenmark Pharma spoke about GSP 301 and other branded products under development. Below is the verbatim transcript of the interview. Anuj: Can we expect an out licensing deal on this and how big is this going to be for Glenmark. Could you Read More


Lowering tax on MSME’s is a welcome step: Glenn Saldanha, Glenmark Pharmaceuticals

Lowering tax on MSME’s is a welcome step: Glenn Saldanha, Glenmark Pharmaceuticals Government has shown its clear intent towards fast-tracking inflow of FDI, and the scrapping of FIPB is a notable step. Overall, the Union Budget2017 is a step in the right direction. While it has focused on economic reforms and liberalisation of the economy, it has also allocated funds to bring more irrigation, roads, electricity and sanitation to rural India. Even though the economic survey paints a sober picture for FY16-17 primarily due to a weaker second half, the budget provides the necessary impetus to sustain GDP growth at Read More


Launch of gZetia positively impacted US business: Glenn Saldanha, Glenmark

Launch of gZetia positively impacted US business: Glenn Saldanha, Glenmark Glenn Saldanha: Q4 also should be a strong quarter as far as overall performance goes and probably will be ahead of Q3 on an overall basis including Zetia. So I think overall Q4 should look stronger than Q3. ET Now: I heard you mentioned that you launched it on December 12th and if Zetia contributed in a smart way with just half a month of sales I am now trying to think what a full quarter of sales because you have a six month period what a full quarter of Read More


Glenn Saldanha – Medicine Man

Glenn Saldanha – Medicine Man Glenn Saldanha is the Chairman & Managing Director of Glenmark Pharmaceuticals Limited. He joined Glenmark Pharmaceuticals in 1998 as Director and took over as Managing Director & CEO in 2001. He also holds a Bachelor’s Degree in Pharmacy from Mumbai University and holds an MBA from Leonard Stern School of Business, New York University. Prior to Glenmark, he has worked with Eli Lily, USA and Price water house Coopers, USA As Chairman & Managing Director of Glenmark Pharmaceuticals Limited, Glenn Saldanha oversees all operations of the organization. During his tenure, he transformed Glenmark into a Read More


New launches to drive earnings growth in FY18 & FY19: Glenmark

New launches to drive earnings growth in FY18 & FY19: Glenmark The company has a strong pipeline of products which the company, CMD Glenn Saldanha said adding that new launches will drive earnings for the company in FY18 and FY19. The company has no plans to raise further capital, he said. Glenmark Pharmaceuticals is betting on new drug launches to drive earnings growth for the drug major. The company expects Zetia generic, which it launched in the US earlier in the month, to contribute revenue worth USD 200-250 million in the next 6 months, Chairman and Managing Director Glenn Saldanha Read More


Glenmark to invest $300m in 3 years to grow 20%

Glenmark to invest $300m in 3 years to grow 20% Mumbai: Glenmark Pharma will invest $300 million for the next three years to grow its revenue at a CAGR of 15-20%, led by sales of specialty drugs and complex generics in oncology, dermatology and respiratory in its top markets — US, India and Europe. The company will invest 11% of its sales on research and development, up from existing 9%, while the proposed capital expansion of $100 million each year will be funded by internal accruals, Glenn Saldanha, chairman and managing director of the $1.2-billion Glenmark Pharmaceuticals, said here. The Read More


ˆ Back To Top