 | |
| Company type | Public |
|---|---|
| ISIN | INE935A01035 |
| Industry | Pharmaceuticals |
| Founded | 1977 |
| Founders | Gracias Saldanha |
| Headquarters | , |
Area served | Global |
Key people | Glenn Saldanha, MD & Chairman |
| Products | Medicines and vaccines |
| Website | glenmarkpharma.com |
Glenmark Pharmaceuticals Limited is an Indian multinational pharmaceutical company headquartered in Mumbai, India.
Glenmark Pharmaceuticals was founded in 1977 by Gracias Saldanha [1] as a generic drug and 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, [2] having returned to India after working at PricewaterhouseCoopers. [3] By 2008 Glenmark was the fifth-biggest pharmaceutical company in India. [4]
By 2011 the founder of the company was one of the richest men in India, [5] 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. [6]
In the mid-2010s the generics industry in general began transitioning to the end of an era of giant patent cliffs 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 or trying to generate new, patented drugs. [7]
Glenn Saldanha took the company down the path of seeking innovation, which was controversial within the company and with shareholders. [7] The company focused on new drugs [8] and biosimilars in the fields of cancer, dermatology and respiratory diseases, which it sought to monetize by partnering with major pharmaceutical companies. [7] [9]
In 2016 it had four such drugs in clinical trials. [10] Its R&D developed a drug to treat asthma and COPD and licensed this to North America and Japan. It also licensed out a new diabetes drug to the German Merck. [2] 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. [11]
In May 2019, Yasir Rawjee was elected as CEO of Glenmark Life Sciences. [12]
On 29 January 2024 Glenmark Pharmaceuticals Ltd. and its subsidiary, Ichnos Sciences Inc., initiated a collaboration to form Ichnos Glenmark Innovation (IGI) aimed at accelerating the development of innovative cancer treatments . IGI announced a robust pipeline comprising three oncology molecules presently undergoing clinical trials, focusing on multiple myeloma, acute myeloid leukemia, and solid tumors. Notably, two of these molecules have received orphan drug designation from the U.S. Food and Drug Administration (FDA).
Glenmark Pharmaceuticals announced that it entered into an exclusive licensing agreement with Australia's Sequirus to commercialize its nasal spray Ryaltris [13] 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 FDA as the brand name. [14]
In June 2020, the company launched a potential COVID-19 drug Favipiravir under the brand name FabiFlu in India [15] [16] [17] after studies found that there was some benefit of the drug in COVID-19 treatment. [18] In August 2020, they also rolled out a higher strength version of FabiFlu. [19]
In 2024, Glenmark Pharmaceuticals introduced a biosimilar variant of the anti-diabetic drug Liraglutide, marking a pioneering endeavor within the Indian pharmaceutical landscape. This product launch additionally signifies Glenmark's entry into the domain of injectable anti-diabetic therapies.
On 25 January 2024 Glenmark Pharmaceuticals, Jiangsu Alphamab Biopharmaceuticals and 3D Medicines announce the signing of a License agreement to develop, register, commercialize, Envafolimab for the oncology indication for India, Asia Pacific, Middle East and Africa, Russia, CIS, and Latin America.
Novartis AG is a Swiss multinational pharmaceutical corporation based in Basel, Switzerland. Consistently ranked in the global top five, Novartis is one of the largest pharmaceutical companies in the world and was the fourth largest by revenue in 2022.
A generic drug is a pharmaceutical drug that contains the same chemical substance as a drug that was originally protected by chemical patents. Generic drugs are allowed for sale after the patents on the original drugs expire. Because the active chemical substance is the same, the medical profile of generics is equivalent in performance compared to their performance at the time when they were patented drugs. A generic drug has the same active pharmaceutical ingredient (API) as the original, but it may differ in some characteristics such as the manufacturing process, formulation, excipients, color, taste, and packaging.
Ranbaxy Laboratories Limited was an Indian multinational pharmaceutical company that was incorporated in India in 1961 and remained an entity until 2014. The company went public in 1973. Ownership of Ranbaxy changed twice over the course of its history.
Etanercept, sold under the brand name Enbrel among others, is a biologic medical product that is used to treat autoimmune diseases by interfering with tumor necrosis factor (TNF), a soluble inflammatory cytokine, by acting as a TNF inhibitor. It has US Food and Drug Administration (FDA) approval to treat rheumatoid arthritis, juvenile idiopathic arthritis and psoriatic arthritis, plaque psoriasis and ankylosing spondylitis. Tumor necrosis factor alpha (TNFα) is the "master regulator" of the inflammatory (immune) response in many organ systems. Autoimmune diseases are caused by an overactive immune response. Etanercept has the potential to treat these diseases by inhibiting TNF-alpha.
Amgen Inc. is an American multinational biopharmaceutical company headquartered in Thousand Oaks, California. One of the world's largest independent biotechnology companies, Amgen's Thousand Oaks staff in 2022 numbered approximately 5,000 and included hundreds of scientists, making Amgen the largest employer in Ventura County. As of 2022, Amgen has approximately 24,000 staff in total.
Gilead Sciences, Inc. is an American biopharmaceutical company headquartered in Foster City, California that focuses on researching and developing antiviral drugs used in the treatment of HIV/AIDS, hepatitis B, hepatitis C, influenza, and COVID-19, including ledipasvir/sofosbuvir and sofosbuvir. Gilead is a member of the NASDAQ Biotechnology Index and the S&P 500.
Dr. Reddy's Laboratories is an Indian multinational pharmaceutical company based in Hyderabad. The company was founded by Kallam Anji Reddy, who previously worked in the mentor institute Indian Drugs and Pharmaceuticals Limited. Dr. Reddy manufactures and markets a wide range of pharmaceuticals in India and overseas. The company produces over 190 medications, 60 active pharmaceutical ingredients (APIs) for drug manufacture, diagnostic kits, critical care, and biotechnology.
Adalimumab, sold under the brand name Humira and others, is a disease-modifying antirheumatic drug and monoclonal antibody used to treat rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn's disease, ulcerative colitis, plaque psoriasis, hidradenitis suppurativa, and uveitis. It is administered by subcutaneous injection. It works by inactivating tumor necrosis factor-alpha (TNFα).
Biocon Limited is an Indian biopharmaceutical company based in Bangalore. It was founded by Kiran Mazumdar-Shaw in 1978. The company manufactures generic active pharmaceutical ingredients (APIs) that are sold in approximately 120 countries, including the United States and Europe. It also manufactures novel biologics as well as biosimilar insulins and antibodies, which are sold in India as branded formulations. Biocon's biosimilar products are also sold in both bulk and formulation forms in several emerging markets.
The pharmaceutical industry in India was valued at an estimated US$42 billion in 2021 and is estimated to reach $130 billion by 2030. India is the world's largest provider of generic medicines by volume, with a 20% share of total global pharmaceutical exports. It is also the largest vaccine supplier in the world by volume, accounting for more than 60% of all vaccines manufactured in the world. Indian pharmaceutical products are exported to various regulated markets including the US, UK, European Union and Canada.
Hetero Drugs is an Indian pharmaceutical company and the world's largest producer of anti-retroviral drugs. Hetero's business includes APIs, generics, biosimilars, custom pharmaceutical services, and branded generics.
Apotex Inc. is a Canadian pharmaceutical corporation. Founded in 1974 by Barry Sherman, the company is the largest producer of generic drugs in Canada, with annual sales exceeding CA$2.5 billion. By 2023, Apotex employed close to 8,000 people as Canada's largest drug manufacturer, with over 300 products selling in over 115 countries. Apotex manufactures and distributes generic medications for a range of diseases and health conditions that include cancer, diabetes, high cholesterol, glaucoma, infections and blood pressure.
Zydus Lifesciences Limited, formerly known as Cadila Healthcare Limited, is an Indian multinational pharmaceutical company headquartered in Ahmedabad, which is primarily engaged in the manufacture of generic drugs. The company ranked 100th in the Fortune India 500 list in 2020.
Beximco Pharmaceuticals Ltd, also known as Beximco Pharma, is a pharmaceutical company in Bangladesh. It is a part of Bangladesh Export Import Company Limited (BEXIMCO).
AbbVie Inc. is an American pharmaceutical company headquartered in North Chicago, Illinois. It is ranked 6th on the list of largest biomedical companies by revenue. The company's primary product is Humira (adalimumab), administered via injection. It is approved to treat autoimmune diseases including rheumatoid arthritis, Crohn's disease, plaque psoriasis, and ulcerative colitis.
Amneal Pharmaceuticals, Inc. is an American publicly traded generics and specialty pharmaceutical company. The company is headquartered in Bridgewater, New Jersey.
Favipiravir, sold under the brand name Avigan among others, is an antiviral medication used to treat influenza in Japan. It is also being studied to treat a number of other viral infections, including SARS-CoV-2. Like the experimental antiviral drugs T-1105 and T-1106, it is a pyrazinecarboxamide derivative.
The US carries out 46% of global research and development (R&D) in the life sciences, making it the world leader in medical research.
Viatris Inc. is an American global pharmaceutical and healthcare corporation headquartered in Canonsburg, Pennsylvania. The corporation was formed through the merger of Mylan and Upjohn, a legacy division of Pfizer, on November 16, 2020.
Arven Pharmaceuticals is a Turkish pharmaceutical corporation headquartered in Istanbul established as a subsidiary of Toksöz Group in 2013. Arven’s primary focus is development and production of high-technology inhaler and biotechnology products. The company is specialized on difficult to make products. Arven is the first Turkish company developing biosimilars for global markets, including the US and EU.
