A company that started back in 1977 has since touched the lives of millions across 80 nations worldwide. Glenmark Pharmaceuticals, founded by Gracias Saldanha, began with a simple goal: to make high-quality medicines accessible to all. Today, it is a global leader, advancing dermatology, respiratory care, and oncology treatments.
Let us explore the remarkable history of Glenmark Pharma Ltd.
Glenmark Pharma History| 40+ Years of Innovation and Growth
Glenmark Pharmaceuticals has a story that begins in 1977. Gracias Saldanha founded the company and named it Glenmark after his two sons, Glenn and Mark, blending their names together. Initially, Glenmark focused on crafting generic drugs and active pharmaceutical ingredients (APIs). Their mission was to bring affordable, quality medicines to people in India, Russia, and Africa. Over the years, Glenmark’s dedication and growth have made a significant impact globally.
Let us take you down memory lane to the year 1977, when it all started.
Glenmark has turned its small start into a major success, driven by a goal to advance healthcare.
In 1977, Glenmark’s journey began when the visionary Late Mr. Gracias Saldanha established the company. From these humble beginnings, a legacy was born!
By 1979, Glenmark made its first mark in dermatology with the launch of ‘Candid Cream. ‘
In 2000, Glenmark made a major advancement by listing on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) of India.
This milestone opened up new opportunities for the company.
A year later, in 2001, Glenmark diversified into API manufacturing. It started operations at its Kurkumbh facility in Maharashtra.
This move was further expanded in 2002 with the acquisition of another API manufacturing facility in Ankleshwar, Gujarat.
In 2004, Glenmark achieved a historic moment.
Glenmark Life Sciences sealed its first out-licensing deal with Forest Laboratories for the GRC 3886 molecule. This deal brought Glenmark $35 million in upfront and milestone payments.
It had already entered a new era of growth!
The following year, in 2005, Glenmark entered a deal with Teijin Pharma for the Japan rights of its novel molecule Oglemilast.
The result?
Glenmark Pharmaceuticals earned an upfront payment of $6 million.
This deal was indeed proof that Glenmark was expanding its global presence.
In 2006, Glenmark made headlines with its new R&D centre in Switzerland, focusing on developing novel biologics.
That year, it also secured a deal with Merck KGaA for its Melogliptin molecule, receiving $31 million.
By 2007, Glenmark continued its global expansion with an out-licensing agreement with Eli Lilly for its TRPV1 antagonist molecules.
In 2010, Glenmark out-licensed its first-in-class GRC 15300 molecule to Sanofi-Aventis.
In 2011, Glenmark company took a significant step by out-licensing its first novel biological entity, GBR 500, to Sanofi-Aventis. This deal was a major milestone for the company, securing $50 million upfront.
Glenmark Pharmaceuticals also received an extra $5 million in May 2014 as a milestone payment, highlighting the success and progress of their innovative work.
In 2014, the company made a significant leap forward.
It opened new manufacturing facilities in North Carolina, US, and La Chaux-de-Fonds, Switzerland. This expansion was crucial in supporting the growing range of Glenmark company products.
Throughout this period, Glenmark’s efforts to innovate and expand its global presence were evident.
In 2015, Glenmark took another milestone step in respiratory health.
They secured a Strategic Development & Licensing Agreement with Celon in Poland. This deal was for the generic Seretide Accuhaler in Europe.
But this was not all!
That same year, they celebrated the approval of generic Seretide in Russia.
The following year, 2016, Glenmark launched ezetimibe, the first generic version of Zetia® in the US.
This was a key breakthrough for high cholesterol treatment. They continued their partnership with Celon for the generic Seretide Accuhaler in Europe and received more approvals for Seretide in Russia.
In 2017, Glenmark advanced with Ryaltris™ (formerly GSP 301 Nasal Spray). This innovative nasal spray combined a steroid with an antihistamine for allergic rhinitis. After completing three Phase 3 trials, it was set for an NDA submission in 2018.
By 2018, Glenmark drew attention when the US FDA reviewed Ryaltris™. This nasal spray aimed to provide relief from seasonal allergic rhinitis. It represented a significant step forward in Glenmark’s mission to tackle common health challenges.
In 2022, Glenmark Specialty S.A. achieved a key milestone. They received approval for a Phase 1 Clinical Trial of GRC 54276. This novel molecule targets advanced solid tumours and Hodgkin’s lymphoma.
This approval highlighted Glenmark’s commitment to oncology innovation.
That same year, Glenmark Specialty S.A. also secured NDA approval from the FDA for Ryaltris™ Nasal Spray. This spray treats seasonal allergic rhinitis in adults and children aged 12 and older. This approval marked a significant achievement in respiratory health.
In 2024, Glenmark and Ichnos announced their partnership, ‘Ichnos Glenmark Innovation.’.
This collaboration combines their strengths in drug development. Their goal is to create cutting-edge therapies for haematological malignancies and solid tumours. This alliance represents years of research and a major step forward in cancer treatment.
Glenmark Company: Key Financial Highlights for FY24
Glenmark climbed two spots in the fourth quarter to become the 3rd largest in the Cardiac segment of the Indian pharmaceutical market. Its revenue for Q4 FY24 stood at ₹30,630 Million.
- Financial Milestone: The sale of 75% of Glenmark Life Sciences (GLS) to Nirma Ltd. made Glenmark net cash positive.
- European Growth: Glenmark’s business in Europe grew by 33.7% year-over-year.
- ROW Performance: The Rest of the World (ROW) segment saw a 16.1% growth across all sub-regions.
- Global Licensing: Ichnos Sciences secured an exclusive worldwide out-licensing agreement for the OX40 portfolio, including ISB 830, with Astria Therapeutics, Inc.
- RYALTRIS® Expansion: RYALTRIS® launched in 7 additional markets, reaching a total of 34 global markets.
Glenmark’s Historic Journey in Revolutionising Global Healthcare
Glenmark Pharmaceuticals Limited is a company on a mission to transform lives worldwide. or you. With a strong presence in branded, generics, and OTC segments, Glenmark is all about innovation. The major areas include Respiratory, Dermatology, and Oncology.
Here’s what makes Glenmark stand out:
- Four cutting-edge R&D centers
- Sixteen manufacturing facilities across five continents.
- Operations in over 80 countries.
- Over 60% of revenue comes from international markets.
- More than 15,000 employees worldwide, with 1,400+ in R&D
Glenmark has a dual approach. One path focuses on discovering breakthrough drugs that could transform treatment. The other path aims to develop speciality products like RYALTRIS® to address current treatment gaps.
With a vision of ‘A New Way for a New World,’ Glenmark is committed to making a real difference in patient care.
- Glenmark Pharma Owner: Gracias Saldanha
- Top 100 Biopharmaceutical Companies: It ranks among the world’s top 100 and is also a leading player in generics and biosimilars.
- Global Presence: The company has local offices in over 50 countries.
- Employee Strength: It has over 15,000 employees worldwide, including 1,400+ who are dedicated to R&D.
- Manufacturing Facilities: Glenmark operates 10 advanced manufacturing facilities.
- Glenmark Product List: It includes medicines like Ascoril, Alex, and Candid, among others.
- Glenmark Company Products: The company mainly focuses on dermatology, respiratory, oncology, diabetes, cardiovascular, and oral contraceptives.
Glenmark Pharma: Impacting Lives, Preserving the Planet, and Empowering Communities
Glenmark Pharmaceutical’ Corporate Social Responsibility (CSR) vision aims to “enrich lives for a healthier and happier world.”
Its initiatives include:
- Health and Sanitation
- Water Conservation
- Livelihood and Skill Building
- Education
- Promotion of Sports
- Disaster Relief and Healthcare Access
Through the “Joy of Giving” program, Glenmark employees have donated over 62,400 hours. They have served health camps, rallies, and eco-friendly projects.
Planet Glenmark is dedicated to reducing its environmental footprint by:
- Efficiently managing water, energy, and raw materials.
- Implementing water-recycling systems
- Adopting energy-efficient manufacturing processes.
- Practicing responsible sourcing of raw materials.
People Glenmark values its workforce and focuses on:
- Providing growth opportunities
- Ensuring fair employment conditions
- Creating a safe and healthy work environment
Key Initiatives:
- Project Kavach works to improve child health and reduce infant mortality.
- They are partnering with NGOs to donate medicines to underserved and disaster-stricken areas.
- The Glenmark Aquatic Foundation supports and nurtures swimming talent in India.
- They also work closely with organisations like Jaipur Foot to support the differently abled.
Glenmark is on a continuous mission to foster a more sustainable, equitable, and healthier world.
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FAQs| Glenmark Pharma History
Glenmark Pharmaceuticals was founded in 1977 by Gracias Saldanha. It began as a manufacturer of generic drugs and active pharmaceutical ingredients.
Glenmark is currently led by Glenn Saldanha, the son of the founder, Gracias Saldanha.
Glenmark’s headquarters is located in Mumbai, Maharashtra.
Glenmark Pharma was launched in 1977.
As of August 14, 2024, Glenmark ranks 13th among the top pharmaceutical companies in India.
Glenmark Speciality focuses on developing branded and generic products in dermatology, respiratory, and oncology.
Source: Screener, glenmark.b-cdn
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