CEO Says Strength Of R&D Arm Made Glenmark Buck Spinoff Trend (India)
This article was originally published in PharmAsia News
Executive Summary
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