Glenmark Pharmaceuticals
MD & Chairman | |
Products | Medicines and vaccines |
---|---|
Revenue | ₹13,306 crore (US$1.7 billion) (2023) [1] |
₹377 crore (US$47 million) (2023) | |
Number of employees | 15,556 (2023) |
Website | glenmarkpharma.com |
Glenmark Pharmaceuticals Limited is an
.History
Glenmark Pharmaceuticals was founded in 1977 by
By 2011 the founder of the company was one of the richest men in India,[6] and Glenmark had worldwide sales of $778 million, a 37% increase over the last year's sales; the growth was driven by Glenmark's entry into the US and European generics markets.[7]
In the mid-2010s the generics industry in general began transitioning to the end of an era of giant patent cliffs in the pharmaceutical industry; patented drugs with sales of around $28 billion were set to come off patent in 2018, but in 2019 only about $10 billion in revenue was set to open for competition, and less the next year. Companies in the industry responded with consolidation or trying to generate new, patented drugs.[8]
Glenn Saldanha took the company down the path of seeking innovation, which was controversial within the company and with shareholders.[8] The company focused on new drugs[9] and biosimilars in the fields of cancer, dermatology and respiratory diseases, which it sought to monetize by partnering with major pharmaceutical companies.[8][10]
In 2016 it had four such drugs in clinical trials.[11] Its R&D developed a drug to treat asthma and COPD and licensed this to North America and Japan. It also licensed out a new diabetes drug to the German Merck.[3] For the financial year 2016–2017 its sales were around 81 billion INR (ca. $1.25 billion), making it the fourth-biggest Indian pharmaceutical company.[12]
In May 2019, Yasir Rawjee was elected as CEO of Glenmark Life Sciences.[13]
On 29 January 2024 Glenmark Pharmaceuticals Ltd. and its subsidiary, Ichnos Sciences Inc., initiated a collaboration to form Ichnos Glenmark Innovation (IGI) aimed at accelerating the development of innovative cancer treatments . IGI announced a robust pipeline comprising three
Selected products
Glenmark Pharmaceuticals announced that it entered into an exclusive licensing agreement with Australia's Sequirus to commercialize its nasal spray Ryaltris[14] which is a fixed-dose combination nasal spray of an antihistamine and a steroid, as a treatment for seasonal allergic rhinitis (SAR). Ryaltris (olopatadine hydrochloride [665 mcg] and mometasone furoate [25 mcg]), formerly GSP 301 Nasal Spray, has been conditionally accepted by the FDA as the brand name.[15]
In June 2020, the company launched a potential COVID-19 drug Favipiravir under the brand name FabiFlu in India[16][17][18] after studies found that there was some benefit of the drug in COVID-19 treatment.[19] In August 2020, they also rolled out a higher strength version of FabiFlu.[20]
In 2024, Glenmark Pharmaceuticals introduced a biosimilar variant of the anti-diabetic drug Liraglutide, marking a pioneering endeavor within the Indian pharmaceutical landscape. This product launch additionally signifies Glenmark's entry into the domain of injectable anti-diabetic therapies.
On 25 January 2024 Glenmark Pharmaceuticals, Jiangsu Alphamab Biopharmaceuticals and 3D Medicines announce the signing of a License agreement to develop, register, commercialize, Envafolimab for the oncology indication for India, Asia Pacific, Middle East and Africa, Russia, CIS, and Latin America.
References
- ^ "Glenmark AR 2022-23" (PDF).
- ^ "Know 10 largest Pharmaceutical Companies in India". Edu Dwar. Retrieved 31 May 2023.
- ^ a b "Emerging Company of the Year : Glenmark Pharmaceuticals". The Economic Times. 27 October 2007. Retrieved 3 August 2023.
- ^ "Emerging Company of the Year : Glenmark Pharmaceuticals". The Economic Times. 27 October 2007.
- ISBN 9780470822388.
- ^ "India's Richest: #69 Gracias Saldanha". Forbes. 2011.
- ^ Levin, Jennifer. "5. Glenmark Pharmaceuticals". FiercePharma.
- ^ a b c Altstedter, Ari (18 May 2017). "Glenmark's Glenn Saldanha seeks a new holy grail as generic drugs run dry". Live Mint.
- ^ "Glenmark, Torrent Pharma ink pact to co-market diabetes drug in India". Business Today. 11 July 2019. Retrieved 20 July 2019.
- ^ Trivedi, Isha (22 December 2016). "We plan to out-license our entire novel drugs pipeline: Glenmark CMD". Live Mint.
- ^ Altstedter, Ari (15 July 2016). "Glenmark Expects Cash Surge From License Deals in Next 18 Months". Bloomberg.com.
- ^ Ninov, Georgi (17 May 2017). "India Pharmaceutical Sector – Small Growth in Sales during FY 2016-17". CEICdata.
- ^ "Glenmark appoints Yasir Rawjee as CEO of Glenmark Life Sciences". Medical Dialogues. 8 May 2019.
- ^ "Glenmark gets FDA nod of company's first NDA for Ryaltris". Biospectrum. 8 August 2018. Retrieved 20 July 2019.
- ^ "Glenmark Pharmaceuticals Submitts NDA To U.S. FDA For Ryaltris". Reuters. 21 May 2018. Retrieved 20 July 2019.
- ^ "Glenmark launches Favipiravir for treatment of mild to moderate COVID-19 patients". cnbctv18.com.
- ^ "Glenmark Launches COVID-19 Drug Favipiravir At Rs 103 Per Tablet". NDTV.com.
- ^ "Glenmark Launches Covid-19 Drug At Rs 103 A Tablet". BloombergQuint.
- PMID 32293834.
- ^ "Glenmark to launch higher strength Favipiravir to reduce pill-burden to patients". @businessline. The Hindu BusinessLine.