Having consolidated in niche segments such as dermatology and extended release drugs in the US, Glenmark Pharmaceuticals, which had revenues of over Rs 1,000 crore in 2009-10, has now set its sights on the US oral contraceptives (hormones) segment.
1. Glenmark launched the ‘Heather’ oral contraceptive in the overseas market this month.
2. The company has 10 applications pending in the US.
3. Glenmark is the only Indian player in the US oral contraceptives segment.
4. It is also the only Indian pharma company with a USFDA-approved manufacturing facility, in Goa.
Glenmark Generics, the company’s subsidiary that takes care of overseas business, launched an oral contraceptive called ‘Heather’ this month, and has 10 more products in the pipeline.
The company, which is the third largest Indian generics company in the US, has filed abbreviated new drug applications (ANDA) for 10 products with the US regulator.
“We have built up a strong product pipeline for the US oral contraceptives market, which is evident from 10 pending ANDAs approvals, and we will strengthen it further,” said Terrance Coughlin, chief executive officer, Glenmark Generics.
The company claims it is the only Indian company in the $4.5 billion (Rs 20,700-crore) US oral contraceptives market.
The segment has been dominated by US majors such as Teva, Barr and Watson.
“They have been enjoying very high operating margins and maintaining high profitability primarily because of no competition from Indian manufacturers,” said the pharma analyst of a brokerage house.
The US oral contraceptive market is one of the largest therapeutic segments and has been the fastest growing segments in the last few years.