Glenmark Pharmaceuticals, a research-led, global, fully integrated pharmaceutical company, has achieved impressive performance during the year ended March 2007. Its consolidated net profit has taken a quantum jump of 254 per cent to Rs 311.16 crore from Rs 87.98 crore in the previous year. The company's consolidated net sales crossed Rs 1000-crore mark and reached at Rs 1242 crore from Rs 695.23 crore, registering a strong growth of 64 per cent.

Glenmark's US business earned revenues of Rs 221 crore with a total of 13 product launches with a growth of 286 per cent for the FY07. Its Latin American business posted revenues of Rs 142 crore for the year FY07 reflecting an increase of 86 per cent over the last year. Revenues from the India formulations segment grew by 9 per cent to Rs 429 crore.

The API business registered an increase in revenues by 34 per cent to Rs 131.84 crore as against Rs 98.10 crore in the previous year. The international API business, registered a growth of 43 per cent to Rs 70.19 crore and the Domestic API business, registered a growth of 24 per cent.

Glen Saldanha, managing director and CEO, said, "Glenmark's performance this year has effectively demonstrated our commitment to grow our branded generics and generics business globally. The deal for GRC 8200 with Merck KgaA and the progress of our molecules has further reinforced our commitment and competency in the arena of new drug discovery."

During the lat quarter of the financial year, Glenmark introduced a number of new molecules and combination products along with line extensions to its top selling brands to complete its therapy basket. Glenmark launched 5 new products including 'Farozet', Gemez, Miliiclav and Vocarb. Another newly launched product, Halovate, a new super potent topical corticosteroid was launched for the first time in India. During FY07, Glenmark has launched 36 new products, out of which 6 products have been launched for the first time in India.

The new Baddi plant achieved a production of Rs 230 crore during 2006-07. In addition the plant was upgraded with a lotion line and an additional ointment line during the year. It also commissioned its facility in Kundiam, Goa for manufacturing oncology solid dosage products during the year. The oral dosage facility of the company's manufacturing plant for regulated markets in Colvale, Goa was expanded in line with US FDA guidelines and GMP requirements.