Glenn Saldanha and Family

Glenmark Pharmaceuticals separated its drug discovery business into a standalone entity so that innovation could be funded without competing with the generics operation for capital.

Glenmark Pharmaceuticals was founded by Gracias Saldanha and has been transformed under his son Glenn Saldanha from a generics-focused domestic business into a specialty pharmaceutical company with operations in over 80 countries. The transition required building regulatory capabilities in multiple markets, investing in novel drug discovery and extending the product portfolio beyond simple generic molecules into complex formulations, injectables and biologics.

Glenmark has been unusual among mid-sized Indian pharma companies in investing consistently in a proprietary drug discovery programme, which has produced several clinical-stage compounds and established the company's scientific credibility in specialist therapeutic areas. Glenn Saldanha has spun out the innovation business as a separate entity, Ichnos Sciences, to give it dedicated management and capital structure without burdening the generics commercial business with the costs and uncertainties of early-stage drug development. His daughter Cheryl Saldanha is gaining international exposure in preparation for a larger role. The separation of innovation and generics reflects a maturity of strategic thinking about how Indian pharmaceutical companies can sustain investment in drug discovery.