Glenmark eyes up to 15 pc consolidated revenue growth over 3-5 years

Glenmark Pharmaceuticals is targeting a consolidated revenue growth of up to 15 per cent over the next 3 to 5 years, the drug firm said in an investor presentation on Tuesday.

This would be mainly on account of strengthening the current business of generics, branded generics, anticipated launch of dermatology and respiratory specialty products during 2019-2022, and new molecular entity (NME) products from 2023 onwards, it added.

Glenmark is targeting a consolidated revenue growth of 12-15 per cent over the next 3-5 years, while focusing on margin expansion, the company said.

The drug firm had posted a consolidated revenue of Rs 9,103.07 crore and a consolidated net profit of Rs 803.87 crore for 2017-18 financial year.

For the first six months of the current fiscal, the consolidated revenue stood at Rs 4,746.94 crore.

It also expects research and development expense to continue at 12-13 per cent of the revenue.

Besides, Glenmark plans to focus on out-licensing of the NME assets.

Outlining a road map for the future, the company said by 2025, it will have global pharmaceutical business across generics, branded generics and over-the-counter (OTC) drug.

The company expects ramp-up of speciality business across all the key markets globally by 2025. It is also looking at potential launch of innovative products in markets with existing commercial footprint by 2025, it added.

The company expects further expansion of Active Pharmaceutical Ingredient (API) business through increased penetration and new capabilities during this time.