Glenmark Pharmaceuticals Generic drugs
Glenmark Pharmaceuticals in an Indian pharmaceutical company founded by a businessman Gracias Saldanha. The company began its operation in 1977. The name of the company is made of two Saldanha’s son’s names – Glenn and Mark. Initially, the company was formed to become a generic drug maker and active pharmaceutical ingredient manufacturer for western drug makers. However, over the last decade, the company is experiencing certain changes and turns shifts its interests to innovation.
In 2017, the company is ranked 8th on the Indian pharmaceutical market by the market capitalization. Throughout its operation it always had been in the top-10 Indian drug-making companies taking different places in this rating.
History of the company’s success
The first products with which the company entered the pharmaceutical market was an ointment called Candid cream and based on clotrimazole. Initially, the company operated only on the local market but in the mid-eighties, it also entered Russian and African markets. But the biggest contribution to the rise of the company in the pharmaceutical companies rating was made by the entering to the EU and the U.S. markets which became possible only in 2011. Before that, the company began listing its stocks on the Indian stock market in 1999 and gaining additional capital could expand its facilities and focus more on the research than the replication of other companies’ products, i.e. generics. The research, however, has been more carried around the improvement of the existing medicines, formulations, delivery forms, and so on.
Since 2001, the company has been running under the management of the founder’s son, Glenn Saldanha who prior to taking the charge of Glenmark Pharmaceuticals had been working in leading British company Price Waterhouse Coopers that is an international network of companies offering professional services in the field of business consulting and auditing. Under the new CEO governance, the company became the fifth biggest pharmaceutical company in India by the year 2008.
By the year 2011, the company had revenue of $778 million from worldwide sales that was 37% more than in the previous year. The reason for such huge and rapid growth was due by the Glenmark's entry into the U.S. and European markets of generics.
In the 2010, as was expected by the generics makers, a number of branded medicines patents were to expire. In fact, although this happened, the branded drugs makers found their ways to maintain the monopoly of the major markets gradually lowering the prices of their medicines. Thus from the industry’s expected revenue of 28 billion the generic drug makers could account for not more than 10. The next year, this number is expected to be even lower.
Instead of consolidating, Glenn Saldanha took the company down the path of seeking innovation, which raised quite a dispute within the company and its shareholders. Nevertheless, it was eventually agreed that the company would focus on new preparations and biosimilars, i.e. the analogs of the most innovational medicines based on complex molecules, in the fields of cancer, dermatology and respiratory diseases. The increase of revenue from this approach is expected to be brought up by partnering with big pharmaceutical companies from the U.S. and the Western Europe. By 2016, the company already had four such medications in clinical trials. By 2016, the company became the fourth largest Indian pharmaceutical company.
In 2015, Glenmark was conferred with the Pharmaexcil Gold Award for New Chemical Entities 2015 b the Pharmaceuticals Export Council of India.
The company has separated production facilities for active pharmaceutical ingredients, i.e. the main components for drugs which are sold under certain brands, and formulations ready to be sold. In total, Glenmark Pharmaceuticals has eleven facilities engaged in formulations production including eight in India and three in other countries – in the U.S., Argentina, and Czech Republic.
All of these formulation production facilities have been approved by the strictest regulatory agencies of the world which allows the company to market their medications on the major markets. These regulatory approvals include the U.S. FDA, MHRA UK, ANVISA Brazil, TPD Canada, MCC South Africa, WHO – GMP, TGA Australia, and others.
The company also has five advanced active pharmaceutical ingredients manufacturing facilities situated in Ankleshwar & Dahej in Gujarat; and Aurangabad, Kurkumbh & Mohol in Maharashtra which collectively manufacture over 100 APIs.
These facilities, as well as the formulation-manufacturing facilities, are approved by the U.S. FDA, MHRA UK, KFDA, WHO-GMP and Romanian authorities and work for the regulated markets of the US, Europe, and Japan. The API plants at Kurkumbh and Mohol have state FDA GMP approvals.
The products and active pharmaceutical ingredients made by Glenmark Pharmaceuticals are present in the markets of eighty countries.
The pharmaceutical company has multiple social initiatives such as Healthy children, Healthier World program launched along with the company’s NGO partner and aimed at encouraging a positive health-seeking behavior among pregnant women, mothers with infants and caregivers towards the right nutrition, good hygiene practices and ensuring complete immunization for children. In the framework of just this program, 3.600 malnourished children were brought to healthy status and 40.000 pregnant and lactating women reached.
Other social programs initiated by the pharmaceutical concern include increasing accessibility of healthcare in remote areas by the creation of diagnostics camps, and medicine donation camps where basic medicines are provided to the needy in a coordinated manner. In addition to the regular medicine donation, Glenmark Pharmaceuticals also donates medicines to the affected areas during natural disasters.
Besides, the pharmaceutical company has the programs of sports promotion among youth to create a healthier nation, it provides sustainable livelihoods for people from the underprivileged layers of the population, participates in government environmental programs, and so on.
For its employees, the company strives to create the best work conditions in the country providing everyone with equal opportunities to grow, learn, and improve their qualifications as well as makes sure to check all employees’ health through a program of Employee Health and Safety. It also continuously reinforces the importance of safety in a workplace amongst the employees through a number of channels such as periodic training, emergency mock drills, safety campaigns, periodic inspections and displays on safety. This had led to increased awareness levels on safety resulting in reporting of even minor incidents.
Products by Glenmark Pharmaceuticals you can buy at our med store
- Generic Precose based on Acarbose is a hypoglycemic drug, the alpha-glucosidase inhibitor that prevents the digestion and absorption of carbohydrates in the small intestine and, as a consequence reduces the growth of glucose concentration in the blood after consumption of carbohydrate-containing foods. It is prescribed for ingestion in patients with insulin-dependent diabetes mellitus in cases where a change in diet or other hypoglycemic agents does not provide effective control over their condition. You can find this medication in our Diabetes medications section.
- Generic Sporanox based on Itraconazole is a medicinal product having an antifungal activity of a broad spectrum. It can be used for skin fungal infection, nail fungal infection, candidiasis, vaginal yeast infection, fungal infection of internal organs, cryptococcal meningitis, and others. You can find this medication in our Anti-fungal medications section.
Our range of products is continuously expanded and if you cannot find a certain medication that you need today, do not hesitate to contact our pharmacists who will gladly help you find an alternative or inform you when the needed medication will be included in our range of products. Please note that we sell all drugs without prescriptions but for your own safety you must consult a doctor prior to buying and using any medication.
Top medications by Glenmark Pharmaceuticals:
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