CEO Says Strength Of R&D Arm Made Glenmark Buck Spinoff Trend (India)
This article was originally published in PharmAsia News
The CEO of Glenmark Pharmaceuticals says his Indian company decided to spin off its generics business rather than its research and development operations, as is the norm, because R&D is the core of its business. Glenn Saidanha said he felt the R&D work could not be sustained on its own and saw no reason to keep it independent. His Indian competitors tend to spin off R&D work in an attempt to increase their funds, but Saidanha said Glenmark already had strong assets providing it with returns before its products go on the market. He also said Glenmark is in the market for small acquisition deals to add to its vertical integration. (Click here for more
You may also be interested in...
Pain relief product sales grew 27% and upper respiratory sales 35% for the week ended 7 March as consumers respond to COVID-19, according to Nielsen data noted in a Jefferies report on consumer health purchasing trends. Private label market share is up slightly, while OTC purchases continue primarily in conventional stores.
Managing partner Corey Goodman said venBio didn’t have trouble closing its fund, because the venture capital firm prepared its investors for an economic downturn months ago.
The US FDA has proposed moving two categories of hepatitis C diagnostics to class II from class III because they pose relatively low risk.