Glenmark Pharmaceuticals will launch 10 to 12 products in the domestic market this fiscal as it looks to step up focus on the Indian market across four key areas, including dermatology, diabetes, cardiology and respiratory segments. For Glenmark, India contributes 26% to its total sales. The 6,600-crore company dervies 31% of its revenues from the US, which is its largest market.
According to Sujesh Vasudevan, President and Head-India business, the company is ramping up its sales force and widening its product portfolio. “Our renewed focus for the Indian market will be fuelled by four categories which include dermatology, diabetes, cardiology and respiratory segments. During this financial year, we will be launching about 10 to 12 new products for the domestic market,” he said.
Among the four categories, dermatology segment takes a bigger pie of the total portfolio. “We hope to launch over 10-12 products in the next two years as the dermatology market is evolving from mere skin disease drugs to wellness categories which would come from both in-house development and in-licensing of molecules,” he added. It will also be launching two drugs in the oncology segment by the end of this fiscal.
The company had projected about 18% to 20% growth which will mostly come from new product launches from the four key areas, Sujesh Vasudevan said after launching Teneligliptin, a new third generation oral antidiabetic agent for the management of type 2 diabetes. The diabetes portfolio contributes to about Rs 100 crore to the total revenue and has been growing at 20% per annum. Globally gliptins is emerging as the preferred line of treatment for managing Type-2 diabetes. Gliptins have emerged as a highly popular anti-diabetic therapy and are considered the future of anti-diabetic treatment. Gliptins are safe and well tolerated, are weight neutral, have low risk of Hypoglycemia and are equally efficacious with rare side effects.