Glenmark Pharmaceuticals Limited

Company Portrait

Glenmark has been one of the fastest growing Indian formulation companies and is ranked 26 [ORG IMS, March 2007] in the domestic landscape. While the company has successfully diversified its overall revenues by entering several new geographies and the API business segment in the last few years, the India market for formulations still contributed approximately 40% of revenues in FY 2007. The company has grown faster than the Indian Pharmaceutical Industry.

In 1998 the India formulations business for Glenmark was dominated by revenues from its dermatology products followed by its products in the respiratory segment. Jointly they contributed 70% of the revenues for the business. While Glenmark had attained a strong position in dermatologicals with a ranking amongst the top 3 companies and its other brands such as Ascoril were segment leaders, a need was felt to diversify the segment mix and enter several new therapeutic areas.

Today Glenmark's segment mix shows a higher diversification. While Dermatologicals and Anti-infective have grown in absolute terms, they contributed to only 45% of revenues in FY 2007. The business has now established a strong position in several other therapeutic areas such as Respiratory, Anti Diabetic and Cardiac therapies.

A multi-tiered strategy, in combination with a conscious and successful effort to diversify the therapeutic basket has enabled the company to drive this growth in its Indian formulation business. Various recent initiatives such as the launch of a new specialty division to focus on our core customers i.e. Dermatologists with High end Dermatological products, further consolidation in Cardiac and Anti Diabetic therapies will provide the impetus for further growth in the years to come.