Glenmark Pharmaceuticals, a Rs. 7,500 crore plus global research-driven integrated pharmaceutical entity, has chalked out its plans to overcome challenges in global markets. The company has announced its “Strategic Blueprint to Transition into an innovation-led Global Pharmaceutical Organization over the next decade.” The revenue is likely to move up by 15 to 20 per cent every year upto 2025 and profit margins will maintain growth of over 25 per cent as focus will be on US operations. With the help of advance NME pipeline it will continue to look for partnering opportunities.
As against the present research and development (R&D) investment of 9 per cent of sales, it is planning to increase it over 11 per cent of its net sales to focus on three key therapeutic areas viz., oncology, respiratory and dermatology. Despite pricing pressure in US due to competition, the generic business is likely to grow significantly in next 3-5 years in the US and it is well set to launch its own new products. Out licencing will be major part of its business in next decade. Instead of inorganic growth, it will focus on its own new products with strong pipeline.
Besides filing of ANDAs in topical, oral solids, onco injectables and hormones, Glenmark is will set to file ANDAs in segments like control substances and drug -device combination in next five years. It is also planning to launch inhalers in next 3-4 years. It is working on 2 additional new dosage forms, with potential launch during 2018 and 2019. Currently, over 15 in-licensing deals are either signed or in advance discussion stage.
Glenn Saldanha, chairman & managing director, said, “Since 2000, it has been the primary objective of Glenmark to facilitate the company’s evolution from a generics organization to a fully integrated, globally commercialized pharmaceutical company with innovative products. As we prepare for the next wave of growth, we have built strong capabilities that uniquely positions us to differentiate our product offerings primarily in our core therapy areas and will invest across the value chain from generics to new molecular entities inn our effort to build a truly global pharma organization.”
The strategic blueprint also outlines aggressive plans to increase its presence worldwide by strengthening focus on complex generics including injectables and expanding its manufacturing footprint. Currently it has 17 manufacturing facilities and has more than 110 ANDA approved. Additional 135 products are in regulatory review or in development stage in the US. Based on the power of pipeline, Glenmark expects to file 20-15 ANDAs and launch 20 generic products annually in the US. Its business in emerging markets is also well positioned for continuous and sustained growth. It also filed over 200 DMFs in various markets.
The company is focusing on US market and currently over 70 per cent of its total turnover comes from the overseas operations in more than 80 countries. The company has managed to strike seven out licensing deals in innovative R&D with big pharma companies.
During last five years, its branded formulation business improved by CAGR of 19 per cent and generic formulation business by CAGR of 20 per cent. Further, API business moved up by CAGR of 21 per cent.