Biotechnology made its first impact in 1980 with the introduction of recombinant insulin. Since then the market for biopharmaceuticals has grown exponentially with worldwide sales for therapeutic proteins and monoclonal antibodies (mAbs) totaling $67 billion in 2006. View leading biotech products. Worldwide more than 500 protein and 150 peptide drugs are in various stages of development.

Monoclonal antibody (mAbs) products alone generated global revenues of around $26 billion in 2007 representing the fastest-growing segment within the global pharmaceutical industry. The future outlook for mAbs is very strong with global sales projected to double to ~$49 billion by 2013. The major advantage of mAbs over other therapeutics is their exquisite specificity. They are ideal drugs to bind to given targets and are very efficacious and display very favourable side effect profiles. No therapeutic area illustrates this better than oncology: mAbs have revolutionized treatment of certain cancers, which in the past could not be effectively treated using conventional small molecule therapies. In addition, patients suffering from inflammatory disorders such as rheumatoid arthritis, ankylosing spondylitis, crohns disease, psoriasis and psoriatic Arthritis have greatly benefited from using mAb therapies.

Glenmark recently diversified its research activities into the fast-growing and high potential area of biopharmaceutical research. Work in this area will complement the Company's ongoing efforts in NCE (New Chemical Entities). The high potential of biological therapies has been recognized by Big Pharma, and they have been investing heavily in acquiring such products and relevant technologies through a combination of in-licensing deals, alliances and acquisitions.