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

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

Glenmark Pharmaceuticals Ltd.

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 company will launch three specialty products in the US over the next three to five years in the respiratory pipeline. Specialty products, part of the complex generics’ segment and valued at around $20 billion, will continue to grow on the back of the increasing incidence of lifestyle diseases like cancer.
Glenmark will look at out-licensing deals with global drug majors for its innovative products to grow business and expand its footprint, but will not look at acquisitions.

“Most of the growth will come from the development of our indigenous pipeline and launch of our own products,” Saldanha said, adding the company will be focused on new molecular entities which includes biologics.

Source: http://timesofindia.indiatimes.com/business/india-business/Glenmark-to-invest-300m-in-3-years-to-grow-20/articleshow/56129588.cms

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