Glenmark Generics Limited has announced that its European subsidiary has launched its first product in Western Europe via initiation of sales of Perindopril tablets in the United Kingdom.
Perindopril Erbumine, an ACE inhibitor indicated for symptomatic heart failure is being manufactured at the Glenmark Generics' plant in Goa, India. It is offered as tablets in three strengths 2, 4 and 8 mg. The total sales for this product segment for the calendar year 2007 was Euro 145 million (USD 210 mn) in the United Kingdom as stated by IMS Health.
Terrance Coughlin, chief executive officer, Glenmark Generics Limited commented, "We are glad to have launched our first product for the UK market. We have done well in the US generics market and now Western Europe offers us another opportunity for growing our pure generics business. We see significant growth potential for Glenmark in this region. We will focus on developing a differentiated product portfolio which will encompass both oral solid and dermatology products. We believe that being vertically integrated with the API of Perindopril will give us a long term advantage over other generic players in the UK market."
Glenmark Generics' current portfolio in Europe consists of two approved products and eight Marketing Authorizations applications filed till date. The company is on track to make an additional eight product submissions in the second half of this financial year comprising both solid oral products and dermatology products. As part of its business plan, Glenmark Generics Europe seeks to grow its business in the European markets through a mix of its own product sales and out-licensing & supply opportunities with key generic companies.