History of Glenmark Pharmaceuticals Limited

Founded in 1977, Glenmark Pharmaceuticals Limited is a leading global pharmaceutical company. The company’s generics business services meet the requirements of developed markets like the US and Western Europe. Their Active Pharmaceutical Ingredient (API) business sells products in more than 65 countries, such as the US, South America, India, etc. In 1979, the company forayed into the Dermatology therapy area with their popular brand “Candid Cream”. In 1980, they started operations in Russia and the Commonwealth of Independent States (CIS). Later, in 1983, the company set up their first manufacturing unit in Nashik. In 1999, they set up their first Research and Development (R&D) centre at Sinnar. In the next year, i.e., in 2000, the company released its IPO and got listed on BSE and NSE. After the listing, the company opened several manufacturing facilities. In 2006, they debuted in the Oncology segment. In 2019, the company’s API arm was split as Glenmark Life Sciences (GLS) and went public in 2021. As of March 2023, the company has a commercial presence across more than 80 countries in the world. They have more than 50 offices, 18 state-of-the-art manufacturing facilities, 8 manufacturing facilities approved by the U.S. FDA and 4 R&D centres. The product portfolio of the company includes Complex Injectables and Biologics, Oral Solids, Liquids, Topical Products and Respiratory MDI/DP.

Business Segments of Glenmark Pharmaceuticals Limited 

• Research and Development: This segment primarily focuses on therapeutic areas, such as Respiratory, Dermatology and Oncology.

• Formulations: Under this segment, the company works towards developing branded and generic formulations. They work towards developing products across respiratory, dermatology and cardio-metabolic therapy areas. They develop innovative products for markets, including Russia and CIS, India, Brazil, Africa and Asia.
• Active Pharmaceutical Ingredients (API): Under this segment, the company manufactures a wide range of high-quality APIs for customers globally. They focus on therapeutic areas, such as Cardiovascular, Central Nervous System, Pain Management, Diabetes, Anti-acne, Urinary anti-spasmodic, Diuretic, Anti-arhythmic, Anti-coagulant, Anti-fungal, Anti-viral, etc. Under this, the company works with the 20 largest generic pharmaceutical companies in the world. They have 77 patents.

As of March 31, 2023, a few of the subsidiaries of Glenmark Pharmaceuticals Limited are:

• Glenmark Pharmaceuticals Inc.: This is a wholly-owned subsidiary of the company that looks after its operations in the USA.

• Glenmark Life Sciences Limited: This subsidiary of the company is publicly listed and carries out API manufacturing.

• Ichnos Sciences Inc.: This subsidiary of the company focuses on innovation in biologics.

Key Personalities of Glenmark Pharmaceuticals Limited

Glenn Saldanha, Chairman and Managing Director Glenn Saldanha has been the CEO and Managing Director of Glenmark Pharmaceuticals Limited since 2000. He joined the company in 1998. Under his guidance, the company was transformed into a truly multinational company and has evolved from an Indian branded generics business into a research-driven and innovation-led organisation. Glenmark also won the ‘Indian Pharma Innovation of the Year’ award by the Government of India.