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Company Profile  
Glenmark Pharmaceuticals Ltd.
BSE Code 532296
ISIN Demat INE935A01035
Book Value(Rs.) 414.85
Dividend Yield % 0.31
Market Cap(Rs. in millions) 179261.43
P/E 12.02
EPS 52.84
Face Value(Rs.) 1  

Glenmark Pharmaceuticals was incorporated in 1977, entered into the dermatology market by 1979 through the launch of its Candid Cream. It is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity) with eight molecules in various stages of clinical development. It operates in the formulation business in over 95 countries that includes India.  The company has a significant presence in branded generics markets across emerging economies including India. Its subsidiary, Glenmark Generics Limited has a fast growing and robust US generics business. The subsidiary also markets APIs to regulated and semi-regulated countries. Glenmark employs nearly 6000 people in over 80 countries. It has twelve manufacturing facilities in four countries and has five R&D centres.

Glenmark was chosen as the “Best Pharma Company in the World - SME” and “Best Company across emerging markets” for 2008 by SCRIP, the largest selling and most respected pharmaceutical magazine in the world. Forbes, another leading international publication, recognized Glenmark as the “Best under a Billion Dollar companies in Asia” for 2008.

Business area of the company

Specialty Business: Drug Discovery: Glenmark’s ground-breaking drug discovery effort is primarily focused in the areas of inflammation [asthma/COPD, rheumatoid arthritis etc.], metabolic disorders [diabetes, obesity, etc.] and pain [neuropathic pain and inflammatory pain]. Glenmark has a robust pipeline of 13 molecules in various stages of preclinical & clinical development. Of these, eight molecules are in clinical trials. The molecules in clinical development are focusing on advanced treatments for chronic/debilitating diseases and are potential blockbusters with potential peak sales opportunity for each molecule being in the range of $1 billion to $3 billion.

Simultaneously, Glenmark has actively followed the strategy of out-licensing its molecules in clinical development to large multinational pharmaceutical organizations. This out licensing strategy has been successful so far with four deals struck by the organization in the last five years collecting $115 million (around Rs 500 crore) as upfront and milestone payments.

This business has three dedicated R&D centres. Discovery research for New Chemical Entities (NCEs) is carried out at its state-of-the-art research centre at Navi Mumbai, India. Over 200 scientists are employed at this research centre. It is a complete end to end setup with expertise in all areas of NCE (new chemical entity) discovery and development ranging from target selection to clinical development. Glenmark’s biopharmaceutical research is carried out at its R&D facility in Switzerland. The centre is dedicated to the discovery and development of novel monoclonal antibodies (mAbs). The R&D centre has capabilities to develop mAbs from inception through to preclinical and clinical studies. Glenmark has also invested in another state-of-the-art R&D facility in Oxford, UK for molecules in clinical development. The R&D facility will serve as Glenmark’s global centre for clinical development for both small molecules (NCEs) and biologics (NBEs). 

Specialty Business: Formulations Business: Glenmark’s formulations business is currently organized around four regions – India, Latin America, Central Eastern Europe and Semi Regulated Markets of Africa/Asia/CIS. The formulations business focuses on therapeutic areas viz. dermatology, anti-infective, respiratory, cardiac, diabetes, gynecology, CNS, and oncology. India is the largest market in terms of revenue for the organization. The formulations business has five manufacturing facilities; three in India and two overseas. These facilities are approved by several regulatory bodies. The facility at Baddi, Himachal Pradesh, India is also approved by MHRA and USFDA for semi-solids. The overseas facilities are situated in Brazil and the Czech Republic. While the manufacturing facility in Brazil services requirements of the Latin American region, the Czech facility services requirements of the Central Eastern Europe region. Glenmark has also invested in a dedicated R&D facility for formulations development. This R&D centre, situated near Nashik, India is engaged in developing specialty/ branded formulations for global markets.

Important events

2010- Glenmark Pharmaceuticals Ltd has entered into a settlement and license agreement with Sepracor Inc to market generic Eszopiclone tablets.

2011- Glenmark wins Two Prestigious Global Recognitions at SCRIP Awards 2011.- Glenmark forays into Cosmeceutical Segment.

2012- Forest Laboratories and Glenmark Sign Development Agreement for Worldwide Collaboration on Novel Agents to treat Chronic Inflammatory Conditions.'

2014-  Glenmark entered into an out-licensing deal with Forest Labs for its novel molecule targeting mPGES-1 Inhibitor. Glenmark received $15 Mn payment from Forest Labs on an option agreement.                                                                    

2015 - Glenmark announced the Strategic Development & Licensing Agreement with Celon, Poland for generic Seretide Accuhaler in Europe. In the same year, Glenmark received approval for generic Seretide in Russia.
- Expanded manufacturing operations – US and Switzerland.
2016 - Glenmark launched ezetimibe, the first and only generic version of Zetia in the United States for the treatment of high cholesterol.
Advancing oncology portfolio - With the addition of GBR 1372, a bispecific monoclonal antibody from Glenmarks’s BEAT technology platform, Glenmark has three clinical candidates targeting oncology indications.

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