SINGAPORE--Glenmark's chairman and managing director says his company is looking for a series of partners around the world to market 7 molecules for various treatments it has in development, all but one in clinical trials.
Glenn Saldanha said all 7 have been outlicensed and have generated $217 million in upfront and milestone payments so far, adding to revenues that helped the generics maker recoup nine years of spending $200 million in research and development for innovative drugs.
In addition to further outlicensing for the molecules, Saldanha said he wants more partners to at least help develop its pipeline of them. But Glenmark already is net cash-positive, he said, and expects expansion of its U.S. facility, when completed, will help the company produce up to 400 million capsules a year. In addition to the tablets, he told the Press Trust of India in an interview, the American plant is to have a capacity of up to 25 million injectables a year.
Beyond the partnerships, Glenmark expects to continue to rely on the Latin America and Europe markets for annual growth, its chief executive said.
- read the Business Standard story here
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