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Glenmark Pharmaceuticals Ltd. Company History and Annual Growth Details

1977

- The Company was incorporated on 18th, November, as "Glenmark Pharmaceuticals Private Limited" under the Companies Act, 1956, and became a deemed Public Company on July 1, 1990, then again became a private Company on September 27, 1990, the word Private was deleted on July 1, 1991 and became a Public Limited Company on January 12, 1996.

- The Company is engaged in Research & Development, manufacturing and marketing of Pharmaceutical Formulations, domestically as well as overseas. The Company has two brands i.e. Ascoril Expectorant and Candid-B among the ORG top 300 leading Pharmaceutical brands in India.

- The Company has a manufacturing facility at Satpur, Nasik. Besides manufacturing Oral Tablets, Liquids and Capsules it also equipped to manufacture Topicals - Creams, Lotions, Ointments and Powders. The plant has been awarded the WHO GMP Certificate indicative of the fact that the facilities and operations fully conform to the WHO requirements on quality standards.

1979

- The company entered the anti-fungal market, where competition was less due to the relatively smaller market size, by introducing Candid Cream.

- The Company launched Candid Lotion. It also introduced Candid V-3, Candid V-1 and Candid V-Gel.

1981

- The Company launced Candid-B Cream, a topical anti-fungal steroid combination to target the hitherto untapped market.

1985

- Candid Mouth Paint was launched for oral thrush, targeted at Paediatricians. The Company launched Ascoril, a cough expectorant, and it is one of the most successful brands of the Company and is ranked 103rd as per ORG Aug'99-MAT.

1987

- The Company started a Research and Development Department at it's Nasik factory.

1990

- The Company launched Candiderma and it is now the number two brand in its segment with a market share of 6.6%.

1993

- The Company launched Candid Ear Drops.

- The Company proposes to implement an ERP system, which is expected to improve operational efficiencies and assist in monitoring performance. The Company is creating a backbone for setting up the ERP system including purchase of requisite hardware and connectivity between Factories/Branches/Depots via leased lines and VSAT.

- The Company proposes to implement the Sales & Distribution and Finance Module, followed by the Production and Material Resource Planning Module.

1995

- The Company launched Candid TV Suspension and Candidtral.

- The Company has created an Employee Welfare Trust ("Trust") called "Glenmark Pharmaceuticals Limited Employee Welfare Trust" to implement the Employee Stock Option Plan.

1997

- The Company established a Cardiac Center at Dadar, in Mumbai.

- Glenmark proposes to set up a drug discovery center in the Thane Belapur area (suburb of Mumbai).

1999

- The Company proposes to launch line extensions and new products to expand its product basket in the existing segments and also capitalise on its doctor penetration. The Company also proposes to establish a subsidiary in Canada, to penetrate the market.

- The Company allotted 1,75,000 warrants to the Trust for cash on September 20th, at Rs 1.0 per warrant.

- Altacef, Suprocin, Suprocin B, Scalpe and Elovera were launched during the year and has been the most successful product by the Company, recording high growth.

- The company is coming out with a public issue of 26,70,000 equity shares of Rs. 10 each for cash at a premium of Rs. 190 per share to fund its proposed expansion plan. The issue will open for subscription on December 10.

- The company is setting up a soft gel capsule manufacturing facility at Goa at a total cost of Rs 19.4 crore for exports to US and a research and development centre in Mumbai at a cost of over Rs 11 crore.

- Glenmark Pharmaceuticals, a Mumbai-based company, will be the first to test the waters from Industrial sector, viz., pharmaceuticals sector, while many other companies are waiting in the wing.

2000

- The Glenmark Pharmaceutical scrip opened its innings on the Bombay Stock Exchange at Rs 550, a whopping 175 per cent increase over the issue price of Rs 200 (including a premium of Rs 190) per share.

- The Company has entered into a strategic alliance with Haller Group (HG) of Brazil.

- The Company is to issue 30,00,000 No. of equity shares of Rs 10 each on private placement to finance the R&D and US FDA projects as also several opportunities for acquisitions and alliances to achieve higher growth.

- The Company is to increase the borrowing powers from Rs 25 crores to Rs 150 crores.

- The Company has acquired three brands, viz. Alex, Flucort and Sensur from Lyka Labs Ltd.

2001

- The board proposes to issue, through private placement, 40,00,000 redeemable cumulative non-convertible preference shares of Rs 100 each bearing dividend of not less than 9 per cent per annum and not exceeding 10.50 per cent per annum.

2002

-Establishes 'Proof of concept' in animal for their anti-diabetic / anti -obesity agent GRC-1087 which is a highly potent and selective human beta 3 andrnoceptor agoinst.

-Company co-opted 3 directors Mr. Rajiv V Desai, Mr A S Mohanty, and Mr Sameer Paigankar in its board.

-Dr Robin Pinto resigns as the director on the board of the company.

-CDC Financial Services Ltd acquires 25,00,000 convertible debentures of the company of Rs.100 each.

2003

-Members approve for the disinvestment of company's right, title and interest in Assets & immovable property relating to manufacturing facilities located in at Verna, Goa.

-Forays into the US generic markets and has roped in a former vice-president of Dr. Reddy's Laboratories to run the activities.

-Declares interim dividend of 65% on the paid up equity capital of the company.

-Directors allot 21000 equity shares to employees on ESOP scheme of the company.

-Enters into a marketing arrangement with Philadaphia based Lannett Company, US to market
the ANDA's .

-Board approves for the sub division of equity shares from Rs.10 to Rs.2 per share.

-Submitts Initial Drug Master File on Amiodarone

-Fire breaks out at Kurkum factory and manufacturing operations have been suspended.

-The Company ties up with Apotex, Canada, for the supply of a new generation bulk drug in cardiac segment.

-Board approves Conversion of Debentures into equity shares at a price of Rs 305.42 per share, resulting in allotment of 818557 equity shares .

2004

-Glenmark Pharmaceuticals Inc, USA signs Development & Marketing Agreement with KV Pharmaceutical Company.

-Glenmark Pharmaceuticals has acquired Laboratories Klinger in Brazil for $5.2m through its wholly owned subsidiary in Brazil, Glenmark Farmaceuitca

-Glenmark Pharmaceuticals Ltd acquires two FDA approved products from Clonmel Healthcare Ltd

-Glenmark Pharmaceuticals SA (Switzerland), a wholly owned subsidiary of Glenmark Pharmaceuticals India (GPL), has entered into a collaboration agreement with Forest Laboratories Inc, USA, for the development and commercialisation of PDE4 (phosphodiesterase 4) inhibitor GRC 3886 for chronic obstructive pulmonary disorder (COPD) and asthma

2005

-Glenmark forges alliance with 2 US firms to sell products in US

-Glenmark Pharmaceuticals & Teijin Pharma announces Collaboration Agreement on PDE4 inhibitor GRC 3886

-Glenmark Pharmaceuticals Ltd has announced that Glenmark Pharmaceuticals SA (GPSA), a wholly owned Swiss subsidiary of the Company, acquired an Argentine marketing company Servycal S A (Servycal) for an undisclosed consideration

-Glenmark Pharmaceuticals signs development & marketing agreement with InvaGen

-Glenmark Pharmaceuticals has given the Bonus in the Ratio of 1:1

2006

-Glenmark Pharmaceuticals - Glenmark USA acquires exclusive marketing rights to 3 additional generic products

-Glenmark & Paul Capital Partners Sign Unique Royalty Deal for USD 27 mn to build US Generic Dermatology Portfolio

-Glenmark Pharmaceuticals US subsidiary inks agreement with Lehigh

-Glenmark Pharmceuticals to acquire generic company in Europe

-Glenmark Pharmaceuticals joins hands with US firm

2007

- Glenmark Pharmaceuticals received tentative US FDA approval for its ANDA for Topiramte Tablet

- Glenmark receives MHRA, UK approval for its state-of-the art semi-solids manufacturing plant at Baddi

- In a $350 million deal with US based Eli Lily, Glenmark Pharmaceuticals has out-licensed GRC 6211 and a few other smaller molecules with potential to treat pain. Glenmark has received an upfront payment of $45 million from Eli Lily and going forward the companies will share the benefits from the sales when it hits the market in 2012.

- The Company has splits its face value from Rs2/- to Rs1/-.

2008

-Glenmark Pharmaceuticals - Glenmark launches Nabumetone & Hydroxyzine Hydrochloride Table

-Glenmark Pharmaceuticals launches Clobetasol from its niche dermatology pipeline

-Glenmark Generics launches trandolapril tablets

-Glenmark's subsidiary received USFDA approval for Betamethasone Dipropionate Cream, 0.05% (Augmented)

2009

- Glenmark Pharmaceuticals Ltd has informed that Mr. M J Mendonza, has joined the Company as Vice President - Legal & Company Secretary with effect from February 06, 2009.

- Glenmark Generics Limited (GGL) has received ANDA approval from the United States Food and Drug Administration (U.S. FDA) for Alclometasone Dipropionate Cream, 0.05% and will commence marketing and distribution of this product in the U.S. market immediately.

- Glenmark Pharmaceuticals Ltd has appointed Mr. D R Mehta as Additional Director of the Company. The company has also appointed Mrs. B E Saldanha as Additional Director of the Company.

- Glenmark Generics Limited's (GGL) US subsidiary has received ANDA approval from the United States Food and Drug Administration (U.S. FDA) for Verapamil 240mg Extended Release tablet s and will immediately commence marketing and distribution in the U.S. market.

2010

- Glenmark Pharmaceuticals Ltd has entered into a settlement and license agreement with Sepracor Inc to market generic Eszopiclone tablets.

2011

- Glenmark wins Two Prestigious Global Recognitions at SCRIP Awards 2011.

- Glenmark exercises its purchase option election with respect to its Royalty agreement with Paul Capital PartnerÂs Royalty Fund ("Paul Capital").

- Glenmark forays into Cosmeceutical Segment.

- GBR 500 Deal receives clearance from Hart - Scott- Rodino Anti trust Improvements Act, USA.

2012

- Forest Laboratories and Glenmark Sign 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.

- Glenmark Pharmaceuticals Ltd has informed BSE regarding a Press Release dated May 16, 2012 titled "Glenmark Generics receives tentative approval for zolmitriptan orally disintegrating tablets from the U. S. FDA".

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.

-USFDA approves Crofelemer 125 mg delayed-release tablets for the symptomatic relief of diarrhea in patients with HIV/AIDS on anti-retroviral 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.

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 Chaux-de-Fonds, Switzerland.
-US Food & Drug Administration (US FDA) 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 (alpha2-beta l) integrin monoclonal antibody.
-Glenmark Generics gets USFDA nod for skin infection cream.

2015
-Glenmark Pharmaceuticals Ltd - "Glenmark announces approval and launch of Ashlyna TM Extended - Cycle Oral Contraceptive Tablets in the US".
-Glenmark Pharmaceuticals Ltd - "Glenmark announces approval and launch of Trandolapril & Verapamil Hydrochloride (HCI) Extended Release Tablets in the US"
-Glenmark Pharma gets US FDA nod for Salmecort MDI Inhaler in Russia
-The Cabinet Committee on Economic Affairs (CCEA) headed by PM has approved the foreign investment proposals of two pharma majors Glenmark Pharmaceuticals and Aurobindo Pharma worth Rs 4,187 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 AccuhalerÂ® 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

2016
-Glenmark Pharma gets tentative FDA nod for anti-arrhythmic drug
-Glenmark Pharma discovers new molecule
-Glenmark gets USFDA nod for cancer treatment drug
-Glenmark receives approval for Raloxifene tablets
-Glenmark gets 3 observations from USFDA for Indore plant
-Glenmark bags approval for Triamcinolone Acetonide Ointment
-Glenmark Launches First and Only Generic Version of ZetiaÂ® in the United States
-Glemark Pharma bags approval for Tretinoin Capsules

2017
-Glenmark Pharmaceuticals and Evestra, Inc. Announce Partnership Agreement for Generic NuvaRingÂ®.
-Glenmark Pharma enters into agreement with APC Therapeutics Inc.
-Glenmark Pharmaceuticals Enters Exclusive Agreement with Cyndea Pharma S.L. for Generic Soft-Gelatin Capsule Drug Products".
-Glenmark Pharma launches nicotine substitute gum.

2018
-Glenmark launches globally-renowned hair growth formula NourkrinÂ® in Russia
-Glenmark launches the biosimilar of Adalimumab in India
-Glenmark Pharmaceuticals Enters Exclusive Collaboration Agreement with SCD Pharmaceuticals, South Korea, for Ophthalmic Solution Products
-Glenmark announces successful launch of generic SeretideÂ® AccuhalerÂ® in Denmark
-Glenmark Pharmaceuticals is collaboration with True North for its orthopaedic and pain management business in India

2019
-Glenmark Pharmaceuticals has Licensing Agreement with Yuhan Corporation for commercializing Investigational Seasonal Allergic Rhinitis Nasal Spray Ryaltris in South Korea
-Glenmark & Torrent Sign Licensing Agreement For Co-Marketing Of Remogliflozin Etabonate In India
-Glenmark Pharmaceuticals secures prestigious Dow Jones Sustainability Emerging Markets Index for the second year in a row

2020
-Glenmark becomes the first company to launch Remogliflozin + Vildagliptin fixed dose combination for adults with Type 2 Diabetes
-Glenmark introduces NINDANIB (Nintedanib) for the treatment of Pulmonary Fibrosis in India
-Glenmark introduces higher strength (400 mg) of FabiFluÂ® to reduce pill burden of COVID-19 treatment
-Glenmark Pharmaceuticals has got approval from the US health regulator for Deferasirox tablets for oral suspension
-Glenmark pledges 50 lakh meals for undernourished children, pregnant women and daily wage earners amidst COVID-19 pandemic
-Glenmark Pharmaceuticals and Hikma enter into an Exclusive Licensing Agreement for commercializing Ryaltris Seasonal Allergic Rhinitis Nasal Spray in the US

2021
-Glenmark introduces was awarded International Safety Award 2021
-Glenmark introduces was awarded Environmental, Social and Governance Summit & Awards 2021
-Glenmark Pharmaceuticals launches Rufinamide Tablets USP, 200 mg and 400 mg
-Glenmark launches RyaltrisÂ® nasal spray at an affordable price in India

2022
-Glenmark gets US drug regulator's nod for high BP medicine.
-Glenmark gets US FDA approval for Nicardipine Hydrochloride capsules.
-Glenmark Pharma gets ANDA approval for generic birth control drug.
-Glenmark receives the ''India Pharma Innovation of the Year'' Award from the Government of India.
-Glenmark is the first company to launch in India a Triple FDC of Teneligliptin + Pioglitazone + Metformin for Adults with Type 2 Diabetes & High Insulin Resistance.
-Glenmark Pharmaceuticals launches Fingolimod Capsules, 0.5 mg in the US.

2023

-"Glenmark Pharmaceuticals launches Bumetanide Injection USP, 1 mg/4 mL (0.25mg/mL) Single-Dose Vials and 2.5 mg/10 mL (0.25 mg/mL) Multi-Dose Vials".

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