Glenmark Pharmaceuticals Enters Into an Exclusive License Agreement With Grandpharma (China) Co. Ltd. for Commercializing Investigational Seasonal Allergic Rhinitis Nasal Spray Ryaltris in China
/ -- Glenmark Pharmaceuticals Ltd., a research-led global integrated pharmaceutical company, today announced that it has appointed Dr. Yasir Rawjee as the Chief Executive Officer of Glenmark Life Sciences Ltd., its subsidiary for the API (Active Pharmaceuticals Ingredients) business.
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Yasir joins Glenmark Life Sciences from Mylan Inc., where most recently, he was the Head of Global API Operations. He has held positions of increasing responsibility at Mylan including Senior Vice President of API Technical Operations and Senior Vice President and Head for Sales and Marketing for the API Business. Yasir started his career with SmithKline Beecham Pharmaceuticals based in the USA and has been associated with GlaxoSmithKline and Matrix Laboratories Ltd. previously. He has over 25 years of experience in the pharmaceutical industry. He has a Ph.D. in Chemistry from Texas A&M University, USA and holds a degree in B.Sc.(Tech.) from UDCT Mumbai, India.
Glenmark's API business has witnessed robust growth rate of 15% CAGR over the last 5 years while maintaining its leadership position globally across several molecules. To provide a strategic focus to this business, Glenmark had earlier this year transferred the API business to a wholly-owned subsidiary Glenmark Life Sciences.
"We see significant growth potential in our API business given the increasing demand for good quality and sustained supply of APIs globally. With this view, we housed our API business into a separate subsidiary, which will be run independently. We are happy that Dr. Yasir Rawjee will now spearhead the API unit and take it to greater heights with his rich experience both in the technical and marketing aspects of the business," said Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals.
"Glenmark Life Sciences has built strong partnerships across the globe and has a very focused approach to further expand the API business. I am pleased to join the organization at a time when I believe I am getting an opportunity to contribute meaningfully in scaling up and shaping the next leg of growth for the API unit," said Dr. Yasir Rawjee.
About Glenmark Pharmaceuticals
Glenmark Pharmaceuticals Ltd. (GPL) is a research-driven, global, integrated pharmaceutical organization. It is ranked among the top 75 Pharma & Biotech companies of the world in terms of revenue (SCRIP 100 Rankings published in the year 2018). Glenmark is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity). Glenmark has several molecules in various stages of clinical development and is focused in the areas of oncology, dermatology and respiratory.
The company has a significant presence in the branded generics markets across emerging economies including India. Glenmark has 16 manufacturing facilities across five countries and has six R&D centers. The Generics business of Glenmark services the requirements of the US and Western European markets. The API business sells its products in over 80 countries, including the US, various countries in the EU, South America and India.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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