Glenmark Pharmaceuticals Ltd
Glenmark Pharmaceuticals Ltd (GLENMARK)

Glenmark Pharmaceuticals Ltd (GLENMARK)

₹406.30.96%

Key Stats

₹400
Day's Price Range
₹409.8
₹386.2
52-Week Price Range
₹690.95
1 Month Return-12.42 %
3 Month Return-15.53 %
1 Year Return-33.88 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 17
11.13
EPS
Rank 10
₹36.14
BVPS
Rank 15
₹250.37
Dividend Yield
Rank 21
0.54%
ROE
Rank 65
11.77%
Price To Book Ratio
Rank 17
1.6
Debt To Asset
Rank 25
0.55

Company Information

Glenmark Pharmaceuticals Ltd was incorporated in November 18th 1977. The company is actively involved in the discovery of new molecules both NCEs new chemical entity and NBEs new biological entity. It is engaged in the business of development manufacture and marketing of pharmaceutical products both formulation and active pharmaceuticals ingredients to regulated and semiregulated markets. The company has several molecules in various stages of preclinical and clinical development primarily focused in the areas of Oncology Respiratory and Dermatology. Its branded generics business has a significant presence in markets across emerging economies including India. The company has 17 manufacturing facilities across US India Argentina Czech Republic and Switzerland. The generics business services the requirements of developed markets like the US and Western Europe. The API business sells products in over 80 countries including the US various countries in the EU South America and India.In the year 1979 the company entered dermatology market with the launch of Candid Cream. In the year 1980 they started exporting their products. In the year 1983 the company commissioned their first manufacturing facility at Nasik in Maharashtra. In the year 1984 they established RD department at Nasik Plant. In the year 1987 they launched Ascoril.In the year 1989 the company started operations in Afghanistan Sri Lanka Kenya and Mauritius. In the year 1982 the company expanded the Nashik plant by acquiring the adjacent plot to include the RD Department as well as increase in installed production capacity. In the year 1996 the company incorporated a wholly owned subsidiary company namely Glenmark Exports Pvt Ltd to consolidate their position in international business. In the year 1999 they started marketing their products in Brazil. In the year 2000 they came out with the public issue. They entered in diabetes segment. Also they acquired three brands from Lyka Labs.In the year 2001 the company launched API manufacturing business. In the year 2002 they acquired an API manufacturing facility at Ankleshwar Gujarat from Glaxosmithkline Pharmaceuticals Ltd. In the year 2004 the company entered their first outlicensing deal for discovery RD with Forest Laboratories for Oglemilast their CIPD/asthma molecule. They acquired Laboratories Klinger Brazil together with their ANVISA approved manufacturing facility inorder to expand their operations in the Latin American markets. They commissioned their own manufacturing facility in Goa to service exports to regulated markets namely USA.In the year 2005 the company launched commercial sales frontend in the US. They commissioned a new manufacturing facility at Baddi Himachal Pradesh. They entered collaborative agreement on Oglemilast with Teijin Pharma for the Japan region. Also they announced collaborative agreement with Napa Pharmaceuticals Inc for their antidiarrheas compound Crofelemer. The company acquired Servycal S A a marketing company in Argentina with strengths in oncology. Also they acquired Bouwer Bartlett Pty Ltd a sales and marketing company in South Africa.In the year 2006 the company signed outlicensing deal in discovery RD with Merck KGaA Germany for their diabetes molecule Melogliptin. Their lead molecule Oglemilast GRC 3886 entered Phase II clinical trials. In the year 2007 the company acquired Medicamenta a marketing and manufacturing company in the Czech Republic. Their molecule GRC 6211 for the potential treatment of pain including osteoarthritis pain outlicensed to Eli Lily. They received MHRA UK approval for their semisolid manufacturing plant at Baddi.In the year 2008 the company initiated Phase IIb for Oglemilast GRC 3886 in Asthma. They completed preclinical development for initiating Phase I trials for GBR 500 a monoclonal antibody for inflammation. The companys molecule for Rheumatoid Arthritis GRC 4039 entered Phase I trials. They reorganized their business and incorporated Glenmark Genrics Ltd as a subsidiary company. They received USFDA approval for the stateortheart semisolids manufacturing plant at Baddi. In the year 2009 the companys molecule for neurophatic pain osteoarthritis completed the Phase I trials. During the year 200910 the company incorporated a subsidiary company namely Glenmark Generics B.V. Netherlands. In the year 2010 Crofelemer a firstinclass antidiarrhoeal molecule completed phase 3 trials. They received the final approval for Pramipexole Dihydrochloride tablets from the USFDA. Glenmark Generics entered into an exclusive licensing agreement with Par Pharmaceuticals USA to market Ezetimibe. The company and SanofiAventis signed license agreement to grant SanofiAventis a license for the development and commercialization of novel agents to treat chronic pain. They launched Prasugrel a revolutionary new antiplatelet drug for the management of Acure Coronary Syndrome with PCT Precutaneous Coronary Intervention for the first time in India.During the year 201011 the company has incorporated a subsidiary company namely Glenmark Arzneimittel GmbH Germany. In October 2010 the company won the Frost and Sullivan Award for Indian Innovator Pharmaceutical Company of the year in October 2010. The company was chosen as the Best Company Across Emerging Markets 2011 and recognized for the Best Overall Pipeline 2011 by SCRIP the largest selling and most respected pharmaceutical magazine in the world.In 2012 Forest Laboratories and Glenmark Signed Development Agreement for Worldwide Collaboration on Novel Agents to treat Chronic Inflammatory Conditions. Glenmark Generics announces the settlement of Paragraph IV litigation with Janssen Pharmaceuticals Inc. Glenmark Generics receives tentative approval for zolmitriptan orally disintegrating tablets. The International Centre for Dispute Resolution ruled in favor of Glenmark on arbitration claim against Napo.In 2013 Glenmark announces launch of Hydrocortisone Butyrate cream in the US. Glenmark announces a new Discovery and the Initiation of IND enabling studies of a novel monoclonal antibody targeting OX40. The USFDA approves the companies Crofelemer 125 mg delayedrelease tablets for the symptomatic relief of diarrhea in patients with HIV/AIDS on antiretroviral therapy ART. Glenmark Generics receives ANDA approval for Mupirocin Calcium Cream USP 2. Atovaquone Prognanil Malarone patent revoked Glenmark launches first UK generic. Glenmark discovers IND enabling studies of a novel monoclonal antibody.In 2014 Glenmark merge its subsidiaries i.e. Glenmark Generics Ltd. GGL and Glenmark Access Ltd. GAL with GPL. Glenmark enters Oncology with the Discovery and the Initiation of IND enabling studies of an innovative bispecific antibody. Glenmark Pharmaceuticals inaugurates new Antibody Manufacturing Facility in La ChauxdeFonds Switzerland. US Food Drug Administration USFDA has granted Glenmark its final acceptance for abbreviated new drug approval ANDA to the company. Glenmark Pharma receives 5 mn from Sanofi as milestone payment from Sanofi on a collaboration of its VLA2 alpha2beta l integrin monoclonal antibody. Glenmark Generics gets USFDA nod for skin infection cream.In 2015 Glenmark Pharmaceuticals Ltd announces approval and launch of Ashlyna TM Extended Cycle Oral Contraceptive Tablets in the US. Glenmark Pharmaceuticals Ltd announces approval and launch of Trandolapril Verapamil Hydrochloride HCI. Glenmark Pharma gets US FDA nod for Salmecort MDI Inhaler in Russia. The Cabinet Committee on Economic Affairs CCEA headed by PM approves the foreign investment proposals of two pharma majors Glenmark Pharmaceuticals and Aurobindo Pharma worth Rs 4187 crore. Glenmark Pharmaceuticals Ltd. has certified approving the Scheme of Arrangement of Glenmark Generics Ltd. and Glenmark Access Ltd. with Glenmark Pharmaceuticals Ltd. Glenmark announces Strategic Development Licensing Agreement with Celon Poland for generic Seretide Accuhaler in Europe. Glenmark Pharmaceuticals receives tentative ANDA approval for Lacosamide Tablets 50 mg 100 mg 150 mg and 200 mg. Glenmark Pharmaceuticals receives ANDA approval for Clotrimazole and Betamethasone Dipropionate Cream USP 1: 0.05. Glenmark Pharmaceuticals has entered into a settlement agreement with Forest Laboratories LLC Forest Laboratories Holdings Ltd. and Royalty Pharma. During the year the company received approval for generic Seretide in Russia.On 19 September 2016 Glenmark Pharmaceuticals Inc. USA announced that it has entered into a strategic Development License and Commercialization Agreement with Particle Sciences Inc. to develop and market a generic version of Celgenes ABRAXANE product paclitaxel protein albuminbound particles for injectable suspension. As per the terms of the agreement Glenmark has obtained Global Exclusive Marketing and Distribution rights of the product upon commercialization. Particle Sciences will develop this product exclusively for Glenmark and shall receive certain milestone payments during various stages of the products development from Glenmark including royalties on sales. On 12 December 2016 Glenmark Pharmaceuticals Inc. USA announced the availability of ezetimibe the first and only generic version of ZETIA Merck in the United States for the treatment of high cholesterol. The availability of ezetimibe is the result of a licensing partnership with Par Pharmaceutical an Endo International plc operating company with whom Glenmark will share profits. Glenmark and its partner Endo will be entitled to 180 days of generic drug exclusivity for ezetimibe as provided for under Section 505 j 5 B iv of the FDC Act.On 19 December 2016 Glenmark Pharmaceuticals announced its strategic blueprint to transition into an innovationled global pharmaceutical organization over the next decade. The Blueprint conveys the companys greater business alignment expanding generics to prioritizing research and development efforts in three key therapeutic areas: oncology respiratory and dermatology. The innovative oncology pipeline with candidates targeting multiple tumors is the top priority with the greater promise to deliver novel firstinclass molecules and help Glenmark evolve into a fully commercialized innovationled pharmaceutical company. The strategic blueprint also outlines aggressive plans to increase Glenmarks presence worldwide by strengthening focus on complex generics including injectables and expanding its manufacturing footprint.On 2 March 2017 Glenmark Pharmaceuticals announced that its US subsidiary Glenmark Pharmaceuticals Inc. USA and Evestra Inc. have completed a strategic development license and commercialization agreement to develop and market a generic version of Mercks Co.s NuvaRing product etonogestrel/ethinyl estradiol vaginal ring designed to allow women access to a more affordable birth control option. Development on the vaginal ring product is currently under way and the two companies expect to file an Abbreviated New Drug Application ANDA in fiscal 2019. Evestra will develop this product exclusively for Glenmark for the US market and will receive certain milestone payments during various stages of the products development including royalties on net sales. Glenmark has secured exclusive marketing and distribution rights for the product including an option to commercialize two additional Evestra vaginal ring products for the US market.On 30 March 2017 Glenmark Pharmaceuticals announced positive results for GSP 301 an investigational fixeddose combination of mometasone furoate 25 mcg and olopatadine hydrochloride 665 mcg administered twice daily as a nasal spray being studied for the treatment of seasonal allergic rhinitis. These results are from a recently completed Phase 3 trial assessing the efficacy and safety of GSP 301 combination therapy versus mometasone olopatadine or placebo.On 14 December 2017 Glenmark Pharmaceuticals announced that it met its primary clinical endpoint in a Phase 3 study evaluating the safety of Ryaltris an investigational fixeddose combination nasal spray in perennial allergic rhinitis PAR. Ryaltris has conditionally accepted as the brand name for GSP 301 Nasal Spray by the US Food Drug Administration FDA. Glenmark plans to submit the companys first new drug application NDA to the FDA for Ryaltris for the treatment of patients with seasonal allergic rhinitis SAR in the first quarter of CY 2018. On 22 February 2018 Glenmark Pharmaceuticals announced that it has entered into an exclusive agreement with South Koreas Sam Chun Dang Pharm. Co. Ltd. SCD to develop manufacture and market a portfolio of ophthalmic products in the US and Canada. Under this agreement these products will be developed and manufactured by SCD in South Korea. Glenmark will seek all market authorizations and commercialize the products in North America. On 4 April 2018 Glenmark Pharmaceuticals and Helsinn Group Helsinn a Swiss pharmaceutical group focused on building quality cancer care products announced that they have entered into an exclusive licensing agreement to introduce AKYNZEO in India and Nepal. AKYNZEO an oral fixed combination of netupitant 300mg and palonosetron 0.5mg in capsule form is used for prevention of Chemotherapyinduced Nausea and Vomiting CINV. The licensing agreement with Glenmark for AKYNZEO represents Helsinns first such agreement in India. Glenmark will have exclusive marketing rights for AKYNZEO in India and Nepal.On 22 May 2018 Glenmark Pharmaceuticals announced that the company has submitted a New Drug Application NDA to the US Food Drug Administration FDA for its leading respiratory pipeline candidate Ryaltris an investigational fixeddose combination nasal spray of an antihistamine and a steroid as a treatment for seasonal allergic rhinitis SAR in patients 12 years of age and older. 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.On 19 June 2018 Glenmark Pharmaceuticals announced that the US Food Drug Administration provided its first supplemental Abbreviated New Drug Applications ANDA approval for the companys manufacturing facility in Monroe North Carolina. The approval covers: Atovaquone and Proguanil Hydrochloride Tablets 250 MG/100 MG and 62.5 MG/25 MG a generic version of GlaxoSmithKlines Malarone atovaquone and proguanil hydrochloride Tablets. The Monroe North Carolina facility is Glenmarks first manufacturing site in the US designed to manufacture a variety of fixed dose pharmaceutical formulations. Glenmark has invested more than 100 million into the facility with plans for further expansion in the coming years. At peak capacity the site is anticipated to produce 300400 million tablets and capsules 2025 million vials and prefilled syringes and 2530 million ampoules for inhaled formulations.During the F.Y. 201718 Glenmark Pharmaceuticals Singapore Pte. Ltd. was formed as the wholly owned subsidiary of the companyIn FY18 Glenmark was granted approval of 21 Abbreviated New Drug Applications ANDA comprising 18 final approvals and three tentative approvals. Notable approvals include Aprepitant Capsules USP Atomoxetine Capsules USP Nitroglycerin Sublingual Tablets and Propafenone Hydrochloride ExtendedRelease Capsules USP. The Company filed a total of 16 ANDA applications with the US FDA throughout the fiscal year.During the year 2018 Glenmark launched Dermikelp VWash Plus Tacroz and Tacroz F in Zambia Tacroz and Telma H in Tanzania Ascoril D Teneligliptin and its combination with Metformin in Mauritius Momate F in Uganda and Sertaconazole Onabet in Sudan.During the year 2018 Glenmark launched Tacroz Dosetil and Momate NS in Philippines Momate NS Dermikelp and VWash in Malaysia and Konzert in Cambodia in the Asia region.As on March 31 2018 the Company has filed over 370 Global DMFs in various markets including 103 USDMFs 28 CEPs 40 EU DMFs 22 Canadian DMFs 12 Japan DMFs 13 Australian DMFs and other DMFs in various RestoftheWorld ROW countries.During the year 2018 NebZmart NebZsol and Vocety were launched in Brazil. In Colombia the Company strengthened its dermatology portfolio and introduced Glenpalene Glenpalene C Dermotil S Glencort Butemax and Clotridid. Momate AZ nasal spray was launched in the Caribbean region and Glenmark is the first generic alternative in the market offering this unique combination.In FY18 Momate Rhino Advance a unique combination of mometasone azelastine nasal spray on the local market was launched in Uzbekistan and is indicated for the treatment of patients with seasonal allergic rhinitis. Momat Rino 60 and 120 doses nasal sprays were also launched in Uzbekistan. During the year Glenmark launched Glenspray mometasone 50 mcg/120 doses and Glenspray mometasone 50 mcg/60 doses in Ukraine.During the year 2018 Glenmark also successfully concluded the US FDA audit of the API plant at Mohol and is awaiting the EIR from the agency.During the year 201819 the Company acquired 100 stake in Zorg Laboratories Private Limited Zorg for an aggregate consideration of 5 lacs before adjustments and subject to legal and financial due diligence. Subsequently name of Zorg was changed to Glenmark Life Sciences Limited GLS. The shareholders of the Company approved the transfer of its Active Pharmaceuticals Business API to GLS by passing a resolution through postal ballot. During the FY2019 the Company had entered into a collaboration with leading homegrown private equity firm True North Enterprise Private Limited True North and transferred its Orthopaedic and Pain management business valued at Rs 635 crore to Integrace Private Limited a subsidiary of True North. Integrace will market the product portfolio in India and Nepal.As on 31 March 2019the company has 42 subsidiary companies under its roof.The Company filed a total of 13 ANDAs with the USFDA during the financial year. In FY 201819 Glenmark was granted approval for 25 Abbreviated New Drug Applications ANDA comprising of 20 final approvals and 5 tentative approvals. During the yearthe company bagged CII Safety Health and Environmental Excellence and Innovation Award 2018 for the Indore facility. During the FY2020the Company had entered into Business Transfer Agreement with Integrace Private Limited for transfer Companys Gynaecology business valued at Rs 115 crore. During the year the Company entered into definitive agreement with Hindustan Unilever Limited for divestment of VWash franchise comprising VWash Plus Intimate Hygiene Wash VWash WOW VWash Plus Bikini Line VWash Plus wipes and other such assets globally including the associated trademarks brand names and certain business contracts. During the year 201920Glenmark Foundation was conferred with the CSR Foundation of the Year Award at the 6th India CSR Summit 2019 Delhi organized by CSR Box.As on 31 March 2020the company has 44 subsidiary companies under roof.Glenmark Life Sciences Limited a wholly owned subsidiary of the Company on 16th April 2021 has filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offer comprising of a fresh issue of up to Rs. 11600 million and an offer for sale of up to 7305245 equity shares of Rs. 2 each of Glenmark Life Sciences Limited by Glenmark Pharmaceuticals Limited. The PO will be subject to market conditions receipt of applicable approvals and other considerations.On 30th April 2021 the Company made a strategic investment of Rs. 400 million in ABCD Technologies LLP .In the fiscal year 202021 Glenmark was granted approval of 14 ANDAs comprised of 10 final approvals and 4 tentative approvals. Additionally Glenmark was granted approval on a Prior Approval Supplement PAS for the 0.25 mg strength for Fingnolimod Capsules. Notable approvals include: Sirolimus Tablets Tacrolimus Capsules USP Topiramate ExtendedRelease Capsules USP Chlorpromazine Hydrochloride Tablets USP and Diltiazem Hydrochloride ExtendedRelease Capsules USP. The Company filed a total of 7 ANDAs with the USFDA in FY21 and plan to file 1820 ANDAs in FY22 including 56 filings which got delayed in FY21 due to the pandemic.
OrganisationGlenmark Pharmaceuticals Ltd
HeadquartersMumbai
IndustryPharmaceuticals