Glenmark Pharmaceuticals today said it would look at outlicensing two of its molecules this year that are in the clinical trials.
"By the end of this year, we would have eight molecules in different stages of clinical trials. We will look at outlicensing any two of them," Glenmark Pharmaceuticals MD and Chief Executive Glen Saldanha said at the company's AGM here.
The drugmaker has 13 molecules. Six are in clinical trials. Two more will enter clinical trials this year.
The company is looking to raise funds for its subsidiary, Glenmark Generics, but has ruled out an IPO in the near future.
"There is no IPO for Generics in the near future because of turbulent markets," Saldanha said.
However, he is open to private equity funding. "We are talking to many people," he said, without elaborating.
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This year, the company will receive $69 million in the form of milestone payments as against $60 million last year.
The pharma firm's topline is expected to grow at 30 per cent in this financial year.
"We are confident of growing the business by over 30 per cent compared to the previous year," he said.
The company would also enter new markets such as Hungary and Turkey, he said.
The US Food and Drug Administration (FDA) banning 30 drugs of Ranbaxy would not have any impact on Glenmark's operation, he said.