Glenmark Pharmaceuticals (Glenmark), the Rs 1,978-crore company, is mulling to buy a medium to large-scale speciality pharmaceutical company in the US. Glenmark has already authorized merchant bankers to identify suitable targets.
Glenmark is present in the US generic segment through its subsidiary Glenmark Pharmaceuticals Inc (GPI), which is the front-end business unit for Glenmark Generics (GGL), Glenmark''s generic arm. The acquisition in the US will be made by Glenmark Pharmaceuticals, which has branded and novel research drugs under development.
The US is the largest drug market in the world and accounts for almost half of the global drug sales of more than $700 billion. In the past, Glenmark acquired Laboratorios Klinger in Brazil, Bouwer Bartlett, a sales and marketing company in South Africa, and Medicamenta, a pharmaceutical marketing and manufacturing company in the Czech Republic.
Glenmark is present in the US generic segment through its subsidiary Glenmark Pharmaceuticals Inc (GPI), which is the front-end business unit for Glenmark Generics (GGL), Glenmark''s generic arm. The acquisition in the US will be made by Glenmark Pharmaceuticals, which has branded and novel research drugs under development.
The US is the largest drug market in the world and accounts for almost half of the global drug sales of more than $700 billion. In the past, Glenmark acquired Laboratorios Klinger in Brazil, Bouwer Bartlett, a sales and marketing company in South Africa, and Medicamenta, a pharmaceutical marketing and manufacturing company in the Czech Republic.
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