Glenmark eyes 20% sales growth in India speciality biz

PTI New Delhi | Updated on March 12, 2018 Published on January 15, 2012

Glenmark Pharmaceuticals expects sales of its speciality business, which focuses on branded products, to grow by around 20 per cent in India in the next three years.

“The objective of the India business is to grow 18-20 per cent sales CAGR for the next three years. India, Russia and Brazil to remain focus markets,” Glenmark said in an investor report.

The Mumbai-headquartered firm’s sales from speciality segment from the Indian market stood at $55 million (over Rs 280 crore) for the second quarter ended September 30, 2011.

The company said it also plans to build expertise around therapeutic areas like dermatology, respiratory and oncology, across all operating regions.

In generics segment, which focuses on marketing of active pharmaceutical ingredients (APIs) and generic formulations, the company intends to focus its ANDA filings in three niche therapeutic areas - dermatology, hormones and oncology.

Commenting on its first-to-file opportunities in the generics segment, the company said it will be launching four drugs between March, 2012 and December, 2016, including cholesterol-lowering Ezetimibe.

The drugs, which the company plans to launch as first-to- file, includes Hydrocortisone Butyrate Cream, used to treat skin inflammation and Fluticasone Lotion used to treat skin pain and itching caused by eczema.

Glenmark has already launched Atovaquone & Proguanil HC, an anti-malaria drug, in September, 2011.

According to MAT January data 2011, Ezetimibe, Hydrocortisone Butyrate and Fluticasone Lotion had sales of USD 1.3 billion, $38 million and $49 million, respectively.

On the innovation front, the company plans to initiate clinical development of at least one new molecular entity (NME) each year.

“New target areas to be preferably first in class globally. Focus areas for research will remain inflammation, pain and oncology,” the report said.

The company also plans to continue with the out-licensing model and simultaneously build capabilities to do late stage development work, it added.

Published on January 15, 2012
This article is closed for comments.
Please Email the Editor