Glenmark Pharmaceuticals Eyes 10-15% Growth by Focusing on High-Margin Products, ETPharma

New Delhi: Flying high on the back of its $1.9 billion (around Rs 16,000 crore) AbbVie deal, Mumbai-based Glenmark is aiming to attain the branded corporate tag with a focus on high-margin products, said Glenn Saldanha, Chairman and MD, Glenmark Pharmaceuticals Ltd.

Speaking at the company’s Q1 FY26 earnings call, Saldanha stated, “Our (Glenmark) vision is to move up the value chain and become a typical branded company with a focus on high margin products.”

Building on this strategy for India business Saldanha said, “We expect our India business to grow at a Compounded Annual Growth Rate (CAGR) of 10-15 per cent over the next two-three years ” and progressing on our plans we launched two strong brands “Tevimbra and Brukinsa which covers a large patent base across multiple solid tumors and hematological malignancies.”

Notably earlier this year in Q4 FY25 the company discontinued its several tail-end brands in India.

Meanwhile, in Q1, Glenmark announced the launch of Tevimbra (Tislelizumab)—an immunotherapy for Lung cancer and Brukinsa (Zanubrutinib)— a BTK inhibitor indicated for blood cancer.

The two therapies are popular medicines approved across 70 countries including, US, EU, India etc, and in 2024 Tislelizumab recorded total worldwide sales of around $625 million (~₹5,300 crore).

While the company reported a sharp slump in Q1 earnings, its executives maintain that revenue to rebound by the second half with EBIDTA margin stabilizing in the range of 23 per cent and expects to sustain its run rate of 10–11 product launches every year.

Speaking at the call, Utkarsh Gandhi, Senior General Manager, Investors relations, Glenmark Pharmaceuticals outlined, “ in Q1 Glenmark launched its Liragtlutide— a GLP-1 therapy for type-2 diabetes—generic brand ‘Lirafit’ adding that the company further plans to launch other GLP-1 therapies and 9-10 injectable products as well”

According to Gandhi, the company currently ranks 13th in the Indian market with a 2.3 percent market share.

For its US business, Saldanha noted, Glenmark is “focusing on respiratory and injectables” and besides this, out of this total 52 ANDA pending applications 24 are in Para IV, translating into a 180 days (for each product) of exclusive marketing window for the company.

As per the company’s latest investor presentation, it expects approval of its generic respiratory ANDAs starting “H2 FY26”, and is also working on filing the ANDA for the other two strengths of Flovent — indicated for the treatment of asthma—generics in the US.

In Q1 Glenmark’s North America sales remained muted with a contraction of 0.4 per cent on a year-on-year (YoY) basis to Rs 778 crore, whereas against the previous quarter it reflects an uptick of 8.9 per cent.

Commenting on the ISB-2001 licensing deal with AbbVie Saldanha shared that deal is likely to be closed by September this year while the company’s innovation spin-off Ichnos Glenmark Innovation (IGI) will continue the candidate dosage expansion trials and the deal receipts will cover IGI total expenditure for the next three years.

Additionally, the payment is expected to turn the Mumbai-based drugmaker’s accounts net cash positive from its current net debt position of Rs 1,500 crore, he noted.

• Published On Aug 18, 2025 at 01:32 PM IST

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