Glenmark Pharmaceuticals
From Wikipedia, the free encyclopedia
 | |
| Company type | Public |
|---|---|
| ISIN | INE935A01035 |
| Industry | Pharmaceuticals |
| Founded | 18 November 1977 |
| Founders | Gracias Saldanha |
| Headquarters | , India |
Area served | Worldwide |
Key people | |
| Products | Medicines and vaccines |
| Revenue |  ₹13,321 crore (US$1.6 billion) (2025) |
| ₹2,351 crore (US$280 million) (2025) | |
| ₹1,047 crore (US$120 million) (2025) | |
Number of employees | 15,556 (2023)[3] |
| Website | glenmarkpharma.com |
| Footnotes / references Financials as of 31 March 2025[update].[4] | |
Glenmark Pharmaceuticals Limited is an Indian multinational pharmaceutical company headquartered in Mumbai.
Glenmark Pharmaceuticals was founded in 1977 by Gracias Saldanha 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. Saldanha's son Glenn took over as CEO in 2001,[5] having returned to India after working at PricewaterhouseCoopers.[6] In 2008 Glenmark was the fifth-biggest pharmaceutical company in India.[7]
By 2011 the founder of the company was one of the richest men in India,[8] 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.[9]
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.[10]
Under Glenn Saldanha, the company focused on developing new drugs[11][10] and biosimilars in the fields of cancer, dermatology and respiratory diseases, which it sought to monetize by partnering with major pharmaceutical companies.[10][12] In 2016 it had four such drugs in clinical trials.[13] 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.[5][unreliable medical source?] 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.[14]
In May 2019, Yasir Rawjee became CEO of Glenmark Life Sciences.[15]
In March 2020, Glenmark Pharmaceuticals sold intimate hygiene brand, VWash, to Hindustan Unilever.[16]
In 2024, Glenmark completed the sale of its 75% stake in Glenmark Life Sciences (GLS) to Nirma for approximately ₹5,651 crore (US$680 million).[17]
In August 2025, Glenmark Pharmaceuticals transferred its consumer care business into a new wholly owned subsidiary named Glenmark Consumer Care Limited.[18][19]
R&D and Partnerships
Formation of Ichnos Glenmark Innovation (IGI)
In January 2024, Glenmark and its subsidiary Ichnos Sciences formed Ichnos Glenmark Innovation (IGI) to combine small‑molecule and biologics R&D for oncology, with three molecules already in clinical trials and two holding U.S. FDA orphan drug designations.[20]
Global Licensing Agreement with AbbVie
In July 2025, Ichnos Glenmark Innovation (IGI), a wholly owned subsidiary of Glenmark Pharmaceuticals,[21] entered into a global licensing agreement with US-based biopharmaceutical company AbbVie for the development and commercialization of ISB 2001. ISB 2001 is a first-in-class trispecific antibody developed using IGI's proprietary BEAT platform, currently in Phase 1 clinical trials for the treatment of relapsed or refractory multiple myeloma.[22] Under the terms of the agreement, AbbVie secured exclusive rights to develop, manufacture, and commercialize the drug in North America, Europe, Japan, and Greater China, while Glenmark retained rights for India and other emerging markets.[23] The deal included an upfront payment of $700 million to IGI, with potential milestone payments totaling up to $1.225 billion, alongside tiered double-digit royalties on future net sales.[24]
Partnership with Hengrui Pharma and Hansoh Pharma
In September 2025 licensed Hengrui’s trastuzumab rezetecan (SHR‑A1811), a HER2‑targeted ADC, for selected markets, with milestone‑linked economics disclosed in media reports.[25][26]
In December 2025, Glenmark Specialty S.A. in‑licensed aumolertinib (third‑generation EGFR‑TKI) from Hansoh Pharma for multi‑regional rights - adding an MHRA/NMPA‑approved lung cancer therapy to its pipeline.[27]
Products & Services
Telma (Telmisartan)
Glenmark launched its telmisartan brand, Telma, in 2003 for the treatment of hypertension and cardiovascular indications.[28] By 2024, the Telma brand family, including 16 line extensions, reached an annual turnover of ₹1,036 crore. The brand's market entry and growth strategy were the subject of a 2015 case study by Harvard Business Publishing Education, which examined its competition with the then-market-dominant molecule, Ramipril.[28]
GlipiQ launch
Following approval from the Central Drugs Standard Control Organization (CDSCO), Glenmark Pharmaceuticals launched Glipiq[29], a biosimilar version of the GLP-1 receptor agonist semaglutide. The medication is indicated for the treatment of type 2 diabetes and represents part of the company's expansion into the metabolic health and weight-management segment in India.[30][31]
