Glenmark Pharmaceuticals Europe Limited

Glenmark Pharmaceuticals first established itself in Europe in August 2004 with the incorporation of a UK subsidiary company.

Since then Glenmark Pharmaceuticals Europe has been actively building a pipeline of products for sale in Europe. The company is looking to grow this pipeline from both its own internal development and through in-licensing to include both specialty and branded generic products and is creating a sales and marketing infrastructure throughout Central and Eastern Europe.

As part of this strategy, in March 2007 Glenmark Pharmaceuticals completed the acquisition of Medicamenta a.s., a Czech-based pharmaceutical company, and in so doing, established its first operational subsidiary in Europe with a presence in both the Czech Republic and Slovakia.

At the beginning of 2008 sales and marketing organisations were incorporated in Romania and Bulgaria to continue the drive into Europe. Glenmark Pharmaceuticals looks to continue its growth in Europe through acquisition and start-up opportunities.

Glenmark also announced that it has established a new company in Poland and acquired a product portfolio of seven branded products from Actavis. Glenmark's estimated annualised sales of the acquired product portfolio for FY09 will be USD 15 million. Under the terms of the agreement, Glenmark has received through its subsidiary all Marketing Authorisations and Trademark rights in Poland for the products, and will sell the products directly to the Polish market through its appointed distributors.

The Polish subsidiary will also launch another 4-5 products by the end of the year in the cardiovascular and CNS segments. The subsidiary has begun hiring sales force and should have around 30 representatives before the end of Q2. By the end of the 2008, Glenmark will also assume full control for the sales, marketing and distribution of the acquired brands, which are currently being promoted and distributed on its behalf by its partner, Actavis.

 

Click the links below to know more about :

  Glenmark Europe
  Medicamenta (Glenmark Europe subsidiary)
  Glenmark Pharmaceuticals S.A