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{{Short description|Indian multinational pharmaceutical company}}
{{Use dmy dates|date=May 2014}}
{{Use Indian English|date=June 2016}}
{{Infobox company
| name = Glenmark Pharmaceuticals
| logo = GlenmarkLogo.jpg
| logo_size = 250px
| caption =
| type = [[Public]]
| traded_as = {{ubl|{{BSE|532296}}|{{NSE|GLENMARK}}}}
| genre =
| fate =
| predecessor =
| successor =
| foundation = 1977
| founders = [[Gracias Saldanha]]
| defunct =
| location_city = [[Mumbai]]
| location_country = [[India]]
| locations =
| area_served = Global
| key_people = Glenn Saldanha, [[managing director|MD]] & Chairman
| ISIN = INE935A01035
| industry = [[Pharmaceuticals]]
| products = Medicines and [[vaccine]]s
| services =
| revenue =
| operating_income =
| net_income =
| aum =
| assets =
| equity =
| owner =
| num_employees =
| parent =
| divisions =
| homepage = [http://www.glenmarkpharma.com glenmarkpharma.com]
| footnotes =
}}

'''Glenmark Pharmaceuticals Limited''' is a [[pharmaceutical]] company headquartered in [[Mumbai]], [[India]] that was founded in 1977 by [[Gracias Saldanha]] as a [[generic drug]] and [[Active ingredient|active pharmaceutical ingredient]] manufacturer; he named the company after his two sons. The company initially sold its products in India, Russia, and Africa. The company went public in India in 1999, and used some of the proceeds to build its first research facility. Saldanha's son Glenn took over as CEO in 2001, having returned to India after working at [[PricewaterhouseCoopers]]. By 2008 Glenmark was the fifth-biggest pharmaceutical company in India.<ref name=Hiscock>{{cite book|last1=Hiscock|first1=Geoff|title=India's Global Wealth Club: The Stunning Rise of Its Billionaires and Their Secrets of Success|date=2008|publisher=John Wiley & Sons|isbn=9780470822388|pages=65–66|url=https://books.google.com/books?id=YiLBD_IpgIkC&pg=PA65|language=en}}</ref>

By 2011 the founder of the company was one of the richest men in India,<ref>{{cite web|title=India's Richest: #69 Gracias Saldanha|url=https://www.forbes.com/lists/2011/77/india-billionaires-11_Gracias-Saldanha_8GY4.html|work=Forbes|language=en|date=2011}}</ref> and Glenmark had worldwide sales of $778 million, a 37% increase over the last year's sales; the growth was driven by Glenmark's entry into the US and European generics markets.<ref>{{cite news|last1=Levin|first1=Jennifer|title=5. Glenmark Pharmaceuticals|url=http://www.fiercepharma.com/special-report/5-glenmark-pharmaceuticals|work=FiercePharma|language=en}}</ref>

In the mid-2010s the generics industry in general began transitioning to the end of an era of giant [[patent cliff]]s in the pharmaceutical industry; patented drugs with sales of around $28 billion were set to come off patent in 2018, but in 2019 only about $10 billion in revenue was set to open for competition, and less the next year. Companies in the industry responded with [[Consolidation (business)|consolidation]] or trying to generate new, patented drugs.<ref name=LiveMint2017>{{cite news|last1=Altstedter|first1=Ari|title=Glenmark's Glenn Saldanha seeks a new holy grail as generic drugs run dry|url=http://www.livemint.com/Companies/RAou6M0VoQyMHz9l2A5zYM/Glenmarks-Glenn-Saldanha-seeks-a-new-holy-grail-as-generic.html|work=Live Mint|date=18 May 2017}}</ref>

Glenn Saldanha took the company down the path of seeking innovation, which was controversial within the company and with shareholders.<ref name=LiveMint2017/> The company focused on new drugs<ref>{{Cite news|url=https://www.businesstoday.in/current/corporate/glenmark-torrent-pharma-ink-pact-to-comarket-diabetes-drug-in-india/story/363461.html|title=Glenmark, Torrent Pharma ink pact to co-market diabetes drug in India|last=Business|first=Today|date=11 July 2019|access-date=20 July 2019}}</ref> and [[biosimilar]]s in the fields of cancer, dermatology and respiratory diseases, which it sought to monetize by partnering with major pharmaceutical companies.<ref name=LiveMint2017/><ref name=LiveMint2016>{{cite news|last1=Trivedi|first1=Isha|title=We plan to out-license our entire novel drugs pipeline: Glenmark CMD|url=http://www.livemint.com/Companies/fZfCaiKR2hDJjaCEcXSuGL/We-plan-to-outlicense-our-entire-novel-drugs-pipeline-Glen.html|work=Live Mint|date=22 December 2016}}</ref> In 2016 it had four such drugs in clinical trials.<ref>{{cite news|last1=Altstedter|first1=Ari|title=Glenmark Expects Cash Surge From License Deals in Next 18 Months|url=https://www.bloomberg.com/news/articles/2016-07-15/glenmark-expects-cash-surge-from-license-deals-in-next-18-months|work=Bloomberg.com|date=15 July 2016}}</ref> For the financial year 2016–2017 its sales were around 81 billion INR (ca. $1.25 billion), making it the fourth-biggest Indian pharmaceutical company.<ref>{{cite news|last1=Ninov|first1=Georgi|title=India Pharmaceutical Sector – Small Growth in Sales during FY 2016-17|url=https://www.ceicdata.com/en/node/867|work=CEICdata|date=17 May 2017|language=en}}</ref>

In May 2019, Yasir Rawjee was elected as CEO of Glenmark Life Sciences. Recently in April 2021, FDA has put a ban on some drugs of Glenmark Pharma which is likely to cause a drop in its share price.<ref>{{cite news|title=Glenmark appoints Yasir Rawjee as CEO of Glenmark Life Sciences|url=https://business.medicaldialogues.in/glenmark-appoints-yasir-rawjee-ceo-glenmark-life-sciences/|work=Medical Dialogues|date=8 May 2019}}</ref>

==Selected products==

Glenmark Pharmaceuticals announced that it entered into an exclusive licensing agreement with Australia's Sequirus to commercialize its nasal spray Ryaltris™<ref>{{Cite web|url=https://www.biospectrumindia.com/news/43/11448/glenmark-gets-fda-nod-of-companys-first-nda-for-ryaltris.html|title=Glenmark gets FDA nod of company's first NDA for Ryaltris|date=8 August 2018|website=Biospectrum|access-date=20 July 2019}}</ref> which is a fixed-dose combination nasal spray of an antihistamine and a steroid, as a treatment for seasonal allergic rhinitis (SAR). Ryaltris (olopatadine hydrochloride [665 mcg] and mometasone furoate [25 mcg]), formerly GSP 301 Nasal Spray, has been conditionally accepted by the [[Food and Drug Administration|FDA]] as the brand name.<ref>{{Cite news|url=https://www.reuters.com/article/brief-glenmark-pharmaceuticals-submitts/brief-glenmark-pharmaceuticals-submitts-nda-to-us-fda-for-ryaltris-idUSFWN1SS0OY|title=Glenmark Pharmaceuticals Submitts NDA To U.S. FDA For Ryaltris|last=Reuters|date=21 May 2018|work=Reuters|access-date=20 July 2019}}</ref>

In June 2020, the company launched a potential [[COVID-19]] drug ''Favipiravir'' under the brand name '''FabiFlu''' in India<ref>{{cite news |title=Glenmark launches Favipiravir for treatment of mild to moderate COVID-19 patients |url=https://www.cnbctv18.com/healthcare/glenmark-launches-favipiravir-for-treatment-of-mild-to-moderate-covid-19-patients-6176191.htm |work=cnbctv18.com}}</ref><ref>{{cite news |title=Glenmark Launches COVID-19 Drug Favipiravir At Rs 103 Per Tablet |url=https://www.ndtv.com/india-news/glenmark-launches-covid-19-drug-favipiravir-at-rs-103-per-tablet-2249598 |work=NDTV.com}}</ref><ref>{{cite news |title=Glenmark Launches Covid-19 Drug At Rs 103 A Tablet |url=https://www.bloombergquint.com/pti/glenmark-launches-covid-19-drug-after-dcgi-nod-mrp-at-rs-103-per-tablet |work=BloombergQuint |language=en}}</ref> after studies found that there was some benefit of the drug in COVID-19 treatment.<ref>{{cite journal |last1=Şimşek Yavuz |first1=S |last2=Ünal |first2=S |title=Antiviral treatment of COVID-19 |journal=Turkish Journal of Medical Sciences |date=21 April 2020 |volume=50 |issue=SI-1 |pages=611–619 |doi=10.3906/sag-2004-145 |pmid=32293834|pmc=7195979 |doi-access=free }}</ref> In August 2020, they also rolled out a higher strength version of FabiFlu.<ref>{{cite news |title=Glenmark to launch higher strength Favipiravir to reduce pill-burden to patients |url=https://www.thehindubusinessline.com/companies/glenmark-to-launch-400-mg-fabiflu-for-covid-treatment/article32284971.ece |work=@businessline |publisher=The Hindu BusinessLine |language=en}}</ref>

== Notes and references ==
{{Reflist|30em}}

==External links==
* {{Official website|http://www.glenmarkpharma.com}}

{{Nifty 200 companies}}

{{Authority control}}

[[Category:Manufacturing companies based in Mumbai]]
[[Category:Pharmaceutical companies of India]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Pharmaceutical companies established in 1977]]
[[Category:Indian companies established in 1977]]
[[Category:1977 establishments in Maharashtra]]

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{{en-Wikipedia}}

Glenmark Pharmaceuticals - Revision history

CleanupBot at 17:49, 1 June 2021