Research Report

Glenmark Pharmaceuticals

"Glenmark has been built on the pillars of Integrity,

Knowledge, Trust & Respect“

- Late Mr. Gracias Saldanha(Founder Emeritus)

Contents

 C om p an y O verview
 . S h areh old in g P attern
 . L ead ersh ip Team
 . S W O T A n alysis
a. S treng th
b . W eakness
c. O p p ortu n ity
d . Threats
 . C om p e titive A n alysis
 . W ay F orw ard
 Company Overview

Glenmark Pharmaceuticals is
a pharmaceutical company BSE Code 500087
headquarteredin Mumbai, India th NSE Symbol GLENMARK
at was founded in 1977 by Gracias
Saldanha as a generic Industry Pharmaceutical
drug and active pharmaceutical Founded 1977
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 ₹449.80
in India in 1999, and used some of C U R R E N T M A R K E T P R IC E
the proceeds to build its first
NSE
research facility.

Saldanha's son Glenn took over

as CEO in 2001, having returned Value Parameters
to India after working 52w H/L (Rs) 572.70/168.00
at PricewaterhouseCoopers. By
2008 Glenmark was the fifth- Mkt Cap(Rs Cr) 12,703
biggest pharmaceutical company P/E Ratio 9.48
in India.Finally A Good News In
2020 Fight Against Pandemic Industry P/E 34.44
COVID19 Company Launched
Price/Book 0.96
Under Brand Name FabiFlu
Dividend Yield(%) 0.56
Face Value(Rs) 1
Shareholding
Pattern
Leadership Team

Glenn Saldanha (Chairman & MD)

Mr. Saldanha oversees all operations of the

organization. During his tenure, he transformed
Glenmark into a truly global organization with
revenue over a billion dollar and commercial
presence in over 80 countries. Mr. Saldanha’s
vision is to discover, develop and take to market
India's first innovative drug for the entire world.

Cherylann Pinto (Executive Director- Corporate services)

she heads Glenmark’s Human Resources,

Corporate Communications, Corporate Social
Responsibility, Information Technology,
Administration and Insurance functions. Prior to
her association with Glenmark, Ms. Pinto had
founded a pharmaceutical company where she
was the Managing Director for 10 years

Mr. V.S.Mani (Executive Director & Global CFO)

He is responsible for the company’s worldwide
finance operations and secretarial function,
including global accounting, financial reporting,
tax and treasury. He has over. 25 years of rich
industry experience across treasury, taxation
,accounting, financial planning & analysis,
secretarial, legal, audits ,risk management.
Leadership Team

Non-Executive Directors

Rajesh V Desai Brian W Tempest Saira Ramasastry

Bernard Munos Blanche E. Saldanha Julio Ribeiro

 SWOT Analysis
• Extremely Productive
R&D efforts.
• Built-up skills in NCE
research over last 6 yrs.
• Built-up strong franchiese
in the US generic market
in a short duration.
Strength
Opportunity
•Re-negotiation of GRC-8200 with
another partners.
•Focus on Biologics research which has
huge potential going forward.
•A pipeline of 11 compounds
comprisisng of 6 NCEs and 5 NBEs.
• Currency appreciation as
exp contributes 55% of
Glenmark’s
reveneus(excluding license
fees)
• Negligible presence in the
European markets.
Weekness
Threat
•Risk of failure/ delays in NCE research.
•Acquisition and integration risk.
•Pricing pressure in the regulated
generic markets.
•Execution risk in the base business.
Competitive
Analysis
 Way Forward

•. Facts about Glenmark-

1) Ranks among top 80 Pharma & Biotech companies globally. (SCRIP 100
Rankings 2019).
2) 3 state-of-the-art R&D centres with 14,000 dedicated employees
worldwide.
3) Local offices in over 50 countries & 15 manufacturing facilities across US,
India, Argentina and Czech Republic. Also, it has commercial presence in over
80 countries.
4) Glenmark Pharmaceuticals secures its position in the prestigious Dow
Jones Sustainability Emerging Markets Index for the second year in a row.(2019)
5) Glenmark’s leading respiratory pipeline candidate Ryaltris™, formerly GSP
301 Nasal Spray, an investigational fixed-dose combination nasal spray of an
antihistamine and a steroid, accepted by the US FDA for review as a treatment
for seasonal allergic rhinitis.(2018)

•Way Forward with Cipla-

Glenmark is one of the top 10 companies in pharma industry. It solely
gives 10.24% return on equity in 2020. The company majorly focuses on
developing and marketing branded and generic formulations. Recently, it has
reorganized its business into separate entities via, Glenmark Pharma, Glenmark
LifeScience, Innovation New; which will help in future growth of company.
Overall pharma sector is fundamentally strong for coming 5-7 years. After 6 yrs,
this sector has shown boom around 25% where overall market is 20% down.
With its vission of “Enriching lives to create a healthier and happier world “,
Glenmark is the good company to stay invested in.
Project Report by - Bhargavi Khare
MBA-Finance, SPPU Sub Centre Nashik