Glenmark eyes 20 percent growth per annum over the next decade

NEW DELHI: Glenmark Pharmaceuticals aims to keep growing its base business by 18-20 per cent per annum over the next ten years.

The drug maker also aims transition to an innovative company with new drug portfolio contributing 30 per cent to the total revenues by 2025.

As part of its strategic priorities for the next decade, the Mumbai-based firm also wants to build leadership position in various therapeutic segments, including dermatology and cancer treatment drugs.

In a regulatory filing to the BSE, the company said it aims to "continue to grow base business at 18-20 per cent per annum over the next decade."

The company also plans to "build global leadership position across core therapy areas of dermatology, respiratory and oncology", it added.

Besides the drug firm aims transition to an innovative company with 30 per cent of revenues generated from the innovative portfolio by the year 2025, it said.

It also plans to focus on organic growth and leverage internal capabilities and commercial footprint across markets, the company added.

Glenmark had reported consolidated net sales of Rs 6,595.25 crore for 2014-15 financial year.

Glenmark has a significant presence in branded generics markets across emerging economies, including India. Its subsidiary Glenmark Generics Ltd has a fast growing and robust US generics business.

It has 16 manufacturing facilities in five countries and six R&D centres and it employs over 11,500 strong workforce from around 50 nationalities.