 "Glenmark to enhance R&D activity and focus on specialty products for growth")
As part of its growth strategy for future, Glenmark Pharmaceuticals will focus on differentiated, specialty and innovative products especially in the three core therapeutic areas of oncology, dermatology and respiratory. As per the strategic blueprint to make the transition into an innovation?led global pharmaceutical organisation, the company is targeting 30 percent of total revenues from specialty and innovation segments over the next decade.
“Since 2000, it has been the primary objective of Glenmark to facilitate the company's evolution from a generics organisation to a fully integrated, globally commercialised pharmaceutical company with innovative products. Over the last 16 years, we have created significant shareholder value and this has been possible because of our continuous investments in R&D. As we prepare for the next wave of growth, we have built strong capabilities that uniquely positions us to differentiate our product offerings primarily in our core therapy areas and will invest across the value chain from generics to new molecular entities in our effort to build a truly global pharmaceutical organisation,” stated Glenn Saldanha, chairman & managing director, Glenmark Pharmaceuticals.
The strategic blueprint also outlines aggressive plans to increase Glenmark’s presence worldwide by strengthening focus on complex generics including injectables, expanding its manufacturing footprint (growing from two formulation facilities to 17). Currently, the company has more than 110 abbreviated new drug application (ANDAs) approved and an additional 135 products in regulatory review or in development in the US. Based on the power of the pipeline, Glenmark expects to file 20?25 ANDAs and launch 20 generic products annually in the US. Its business in emerging markets is also well positioned for continuous and sustained growth over a long period in time.
“Building from our enviably strong foundation has given us operational and financial flexibility that allows us to execute on our ambitious plans, we expect the next wave of our growth to be as impressive as our first,” added Saldanha.
The blueprint conveys the company’s greater business alignment expanding generics to prioritising research and development efforts in three key therapeutic areas - oncology, respiratory and dermatology. The innovative oncology pipeline, with candidates targeting multiple tumours, is the top priority with the greater promise to deliver novel, first?in?class molecules and help Glenmark evolve into a fully commercialised, innovation?led pharmaceutical company.
With end?to?end capabilities from R&D to full?scale manufacturing (both in small molecules & novel biologics), the company enjoys a strong position in IP leadership and global footprint for rapid market penetration. These intellectual assets are already producing results for Glenmark with a specialty and new molecular entity (NME) pipeline consisting of nine assets in the three core areas, four of which are in clinical or late pre?clinical development. The company expects to launch its specialty business in the US with its first FDA NDA approval in respiratory within 3-5 years.
While Glenmark will enhance development efforts on niche generics and complex technologies (such as semi solids and hormones), it plans to enter new dosage forms with low competitive intensity, ie, inhalers.