Annual Report - Glenmark

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Active Pharmaceutical Ingredients 22 Highlights, 2004-05 The Ankleshwar plant, obtained from GSK in 2003, was successfully inspected and approved by the US FDA for the following two products, Amiodarone Hydrochloride and Cilostazole. The Company filed 13 DMFs by March 2005. Sixteen new products were introduced across segments which included Dermatological, Cardiovascular, Pain Management and CNS therapeutic segments. Significant contributions to revenues were made by newly added markets in Asia Pacific, South America, Middle East and Canada. The Company also filed 39 process patents. Introduction The role of suppliers of active ingredients, often referred to as building blocks, in the pharmaceutical industry, is rapidly changing in response to the changing needs of its customers and can be expected to evolve even more in the future. The generics industry is expected to witness significant growth in the following 5-6 years and the derived demand for quality APIs is projected to grow rapidly. The share of regulated markets in the export revenues of Indian API manufacturers is expected to rise sharply; in FY 2005, Indian pharmaceutical players have filed more than 200 DMFs with the US FDA. In the fourth quarter of FY 2005 alone, the US FDA is reported to have received 74 filings from Indian companies and this figure has been the highest achieved by the Asian sub-continent in the past 2 years. A number of factors contribute to India becoming the most sought after destination for the sourcing of bulk drugs, viz. Low development costs. Strong process chemistry capabilities to undertake complex synthesis. High quality certified manufacturing facilities. At present, India has over 70 bulk drugs manufacturing units approved by the US FDA and several other regulatory agencies. Further, this number is likely to move up in the near future. Growing skill levels in developing low cost API's through non-infringing routes to assist in the timely launch of generic formulations in regulated markets, thereby acting as a catalyst for the growth of the generics industry. Glenmark Pharmaceuticals Ltd is an emerging, global pharmaceutical company with proven research capabilities. The Company's API
developing low cost routes to manufacture drugs going off patent to serve the generics industry Annual Report 2004-2005 23
Page 1 and 2: Glenmark Pharmaceuticals Limited An
Page 3: Consolidated Financial Highlights Y
Page 6 and 7: Global. Research-focused. Integrate
Page 8 and 9: Global accounts for half the global
Page 10 and 11: Research-focused 6 In the post-GATT
Page 12 and 13: Integrated 8 Glenmark's business st
Page 14 and 15: Highlights, 2004-05 Consolidated re
Page 16 and 17: Interview with MD & CEO 12 Glenn Sa
Page 18 and 19: Our lead compound for Asthma and CO
Page 20 and 21: Business Divisional Analysis 16 Ind
Page 22 and 23: Domestic Formulations Performance H
Page 24 and 25: 20 accounted for almost 50 percent
Page 28 and 29: Therapeutic segment contribution in
Page 30 and 31: International Formulations Performa
Page 32 and 33: 28 percent evinced a growth spurt i
Page 34 and 35: Research and Development 30 JANUARY
Page 36 and 37: 32 compounds are licensed to global
Page 38 and 39: Diabetes/Obesity Incidence Globally
Page 40 and 41: Global Management Team Name Glenn S
Page 42 and 43: 38 Revenues Glenmark's turnover for
Page 44 and 45: 40 Secured Loans Secured loans incr
Page 46 and 47: existing employees to keep them in
Page 48 and 49: 44 who are geared to respond to and
Page 50 and 51: Profit & loss Account (Rs. in ‘00
Page 52 and 53: PAT Margin Research and development
Page 54 and 55: Directors’ Report Your Directors
Page 56 and 57: 52 of the Company. On exercising th
Page 58 and 59: Annexure to the Directors’ Report
Page 60 and 61: v. The products launched and sold i
Page 62 and 63: Disclosure pursuant to the provisio
Page 64 and 65: Report on Corporate Governance Purs
Page 66 and 67: B. Given below are the details of r
Page 68 and 69: He is also a Director of following
Page 70 and 71: Further resolutions with requisite
Page 72 and 73: (All figures in Indian Rupees) Mont
Page 74 and 75: ) Risk as to fraudulent encashment
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ANNEXURE TO AUDITORS’ REPORT Refe
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Balance Sheet Rs. In (’000s) As a
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Cash Flow Statement Rs. In (’000s
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Schedules forming part of the Balan
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Schedules to the Profit & Loss Acco
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Schedules forming part of the Finan
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100 SECTION 212 STATEMENT PURSUANT
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Consolidated Balance Sheet Rs. In (
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Consolidated Cash Flow Statement Rs
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Schedules forming part of the Conso
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114 Notes to the Consolidated Accou
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118 Notes to the Consolidated Accou
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14 13 12 43 19 71 49 10 5 20 62 3 3
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