Saldanha said the company expects a higher share of revenue to come from innovative drugs as Glenmark advances its pipeline and focuses on developing differentiated therapies.
The company is also “excited” about a couple of molecules that it is currently working on, Saldanha said, without disclosing further details.
AbbVie deal to fund innovation
Glenmark plans to deploy $700 million from its deal with AbbVie towards innovation, Saldanha said, underlining the company’s strategy to use the proceeds to strengthen its pipeline, including its multi-specific antibody platform.
In July this year, Glenmark entered into a strategic licensing agreement with AbbVie for its investigational drug, which is aimed at supporting the company’s innovation-led growth strategy.
GLP-1 opportunity
Saldanha also spoke about Glenmark’s plans to enter the GLP-1 segment with generic versions, as the company looks to participate in the growing market for diabetes and obesity treatments.
He also declined to comment on the churn at Tata Sons.
US business
In August, Glenmark Executive Director and Global Chief Financial Officer Anurag Mantri said the company’s US business was expected to deliver another strong year, with revenue projected to exceed $430 million in FY27 and continue growing at 10–12% annually.
New respiratory launches and the commercial ramp-up of Glenmark’s Monroe manufacturing facility were expected to support growth. The company also saw no immediate impact from potential US tariffs on generic drugs.
Mantri had said Glenmark remained confident of delivering EBITDA margins of 21–22% despite rising input and logistics costs. He expected India, emerging markets and Europe to continue contributing to growth, with chronic therapies, oncology and respiratory remaining key focus areas.
Shares of Glenmark Pharmaceuticals were trading 2.16% lower at ₹2,280.60 at 12:16 pm. The stock has declined 6.4% over the past month but remains up 12.6% so far this year.
