Glenmark Pharma Success Story – A company serving more than 65 nations

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Active pharmaceutical ingredients (APIs) are any compound or combination of substances used in a finished pharmaceutical product. The introduction of these active ingredients is due to the increasing desire for affordable new medicines.

The API market is evolving and many large pharmaceutical manufacturing companies are upscaling their API manufacturing process. One of the reasons for this growth is that the API market has created opportunities.

If there is one company that is driving evolution with the development of generic drugs and APIs, it is Glenmark Pharmaceuticals Limited. The company was founded in 1977 by Gracias Saldanha.

Learn more about the success story of Glenmark Pharmaceuticals Limited. We have covered all the appropriate information about the company like founder, startup story, business and revenue model and many more details.

Glenmark Pharma Limited – Company Highlights

headquarters Mumbai, India
sector pharmaceutical manufacturing
Type Publicity
founder Grace Saldanha.
Founded 1977
revenue Rs 29,649 million
Total funding raised $58 million

Glenmark Pharma Limited
Glenmark Pharma Limited
Glenmark Pharma Limited – Founder
Glenmark Pharma Limited – Startup Story
Glenmark Pharma Limited – Mission and Vision
Glenmark Pharma Limited – name, slogan, logo
Glenmark Pharma Limited – Business and Revenue Model
Glenmark Pharma Limited – Funding and Investors
Glenmark Pharma Limited – Mergers and Acquisitions
Glenmark Pharma Limited – adverts and social media campaigns
Glenmark Pharma Limited – Awards and Achievements
Glenmark Pharma Limited – Competitor
Glenmark Pharma Limited – Future Plans

Glenmark Pharma Limited

Glenmark Pharmaceuticals was founded in 1977 to be a pre-eminent, fully integrated, international pharmaceutical company. Glenmark appears to have a sizeable presence through its dominant generics business in emerging markets, including India. The company’s main efforts are to bring affordable and high-quality medicines to patients worldwide. About 100 million patients worldwide benefit from its generic medicines every year.

Glenmark is also a top partner for pharmaceutical companies around the world and a global supplier of high quality API products. Its API business offers its goods in more than 65 countries, including the US, many EU countries, South America and India.

Glenmark Pharma Limited – Industry Details

From 13.7% in July 2020, the Indian pharmaceutical market grew at an annual rate of 17.7%. According to some reports, the Indian pharmaceutical market would generate over 12% YoY revenue growth in FY22.

Excluding the huge advances in the pharmaceutical sector, the revenue of this industry totaled $1.27 trillion in 2020. With continued innovation in the world of medicines and all things pharmaceutical, these numbers are only going to increase.

Glenmark Pharma Limited – Founder

The founder of Glenmark Pharma Limited is Grace Saldanha.

Gracias Saldanha, Founder of Glenmark Pharma
Gracias Saldanha, Founder of Glenmark Pharma

Gracias Saldanha

Gracias Saldanha was the founder and CEO of Glenmark Pharmaceuticals. He laid the foundation for the company in 1977. Gracias belongs to the village of Saligao, a district in Goa.

Gracias Saldanha was ranked 69th in the 2011 Forbes list of Indian billionaires. His net worth has been estimated at $805 million.

Gracias is known for his philanthropic activities in Goa and his contributions to the promotion of Indian generics. For all these activities, the pharmaceutical company is constantly growing. Gracias Saldanha died on July 21, 2012.

Glenn Saldanha

Glenn Saldanha is the current Managing Director and Chairman of Glenmark Pharma Limited. He earned his Bachelors in Pharmacy from the University of Mumbai and also holds an MBA from NYU Stern School of Business.

Before joining Glenmark, Glenn worked as a consultant at PwC USA. He has won many awards including EY Entrepreneur of the Year in 2017, Best CEO: Pharma & Healthcare issued by Business India in 2014,

The India Pharma Leader Award is presented by the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, Govt of India in 2015 to name a few. Under his stewardship, Glenmark has transformed from an India-based generics company to one that prioritizes research and innovation.

Glenmark Pharma Limited – Startup Story

Founded in 1977 by Gracias Saldanha, Glenmark’s mission was to manufacture generic and active pharmaceutical ingredients. The company initially offered its products in India, Russia and Africa and later offered them in other parts of the world. In 1999 the company went public in India and part of the proceeds were used to build its first research center. The generics market in general started to transition in the mid-2010s, ending a period of enormous patent cliffs in the pharmaceutical sector. Patented drugs with annual sales of about $28 billion should be patented in 2018, but only about $10 billion in sales should be available to competitors in 2019, and even fewer the following year.

The company specializes in developing novel drugs and biosimilars to treat cancer, skin diseases and respiratory diseases and has worked with big pharmaceutical companies to monetize these products.

Glenmark’s revenues for the 2016-2017 financial year were around INR 81 billion (US$1.25 billion), making it the fourth largest pharmaceutical company in India.

Glenmark Pharma Limited – Mission and Vision

Glenmark’s vision is: “Discovering opportunities and improving the lives of patients around the world by developing cures for unmet medical needs.”

Gracias Saldanha named the company after his two sons, Glenn Saldanha and Mark Saldanha.

Glenmark’s slogan is: “A New Way for a New World”

Glenmark Pharma Limited – Business and Revenue Model

Glenmark’s business model is said to have two categories – specialty business and generic business.

Glenmark’s business includes the manufacture of generics and APIs for both the domestic and international markets. Glenmark has multiple business elements such as Paediatrics, Internal Medicine, Dermatology, Gynecology, ENT and Diabetes. It has three state-of-the-art R&D centers located in Sinnar (Maharashtra), Taloja (Maharashtra) and Mahape (Maharashtra). The company has a total of 10 production facilities worldwide – seven in India (Goa, Sikkim, Nalagarh, Nashik, Indore, Aurangabad), one in the USA (North Carolina), one in Argentina (Buenos Aires) and one in the Czech Republic (Vysoke myote).

In the 2020 pandemic year, the company launched a potential COVID-19 drug favipiravir under the name FabiFlu in India after studies found the drug had some benefit in treating COVID-19. Within months of the launch of this new drug, the next strength version of FabiFlu was jointly launched.

Its operations span – 10 world-class facilities on four continents and operates in over 80 countries.

Glenmark generates most of its revenue from manufacturing medicines primarily focused on the areas of inflammation — asthma/COPD, rheumatoid arthritis, metabolic disorders — diabetes, obesity, and pain — neuropathic pain and inflammatory pain. The company reportedly derives about 58% of its sales from specialty formulations in the domestic segment.

Glenmark’s CSR initiatives are primarily focused on children’s health through the Glenmark Foundation and have impacted over 900,000 lives worldwide over the years.

Glenmark Pharma Limited – Funding and Investors

In three rounds, Glenmark Pharmaceuticals has raised $58 million in investments. On August 13, 2018, they received their latest capital from a post-IPO equity round. Three investors fund Glenmark Pharmaceuticals. The most recent investors are True North and Actis.

Glenmark Pharma Limited – Mergers and Acquisitions

Glenmark Pharmaceuticals has bought four companies. On March 27, 2007, they made their final purchase, Medicamenta.

date acquire names Crowd
March 27, 2007 medicine
December 26, 2005 Bouwer Bartlett
October 26, 2005 service
April 2, 2004 Laboratorios Klinger $5.2 million

In 2021, Glenmark advertised its talcum powder under the brand name Candid dusting powder. The advertisement features Rohit Sharma, a renowned cricketer. The video talks about the properties of Glenmarks talcum powder such as antibacterial skin solutions, sweat absorption ability etc.

Glenmark Pharma Limited – Awards and Achievements

Here is the list of awards and achievements Glenmark has won:

  • Glenmark was recognized as Best Innovative CSR Project at the 5th edition of the Corporate Social Responsibility Summit and Awards
  • Glenmark has won the Gold Award – Environmental Excellence – Nalagarh Plant – by Apex India Green Leaf Awards 2021
  • Glenmark has won India Pharma CSR of the Year – Runner Up – India Pharma & India Medical Device Awards 2022
  • Glenmark has won the 2022 Safety Environment Strategy Summit & Awards in the Risk Management and Risk Assessment in the Workplace category.
  • The Glenmark Foundation won the 8th CSR India Award for Outstanding Achievement in the Promotion of Healthcare category.

Glenmark Pharma Limited – Competitor

Glenmark competes with the following list of top companies:

  1. DR. Reddy’s Laboratories
  2. Cipla Limited
  3. Divis Laboratories
  4. Lupine Ltd.
  5. Aurobindo Pharma Ltd.
  6. Torrent Pharma
  7. Abbott India
  8. Zydus Lifesciences Ltd.
  9. Pfizer
  10. Gland Pharma Ltd.
  11. Alkem laboratory
  12. Ajanta Pharma

Glenmark Pharma Limited – Future Plans

The company plans to invest Rs 600 crores to double its capacity in the coming years. In addition, Glenmark plans to enter more regulated growth markets such as Brazil, Russia, Korea, Mexico, Taiwan and Saudi Arabia.

frequently asked Questions

What is the rank of Glenmark Pharma?

Glenmark ranks 13th among global pharmaceutical companies.

Who is the CEO of Glenmark Pharma?

Glenn Mario Saldanha is CEO of Glenmark Pharma.

Is Glenmark Pharma a public company?

Yes, Glenmark Pharma is a public company.

Where is Glenmark Pharma’s headquarters located?

Glenmark Pharma’s head office is located in Mumbai.