Glenmark sees innovative products driving 70% revenue in 5-6 years: CMD Glenn Saldanha

Glenmark expects innovative products to account for nearly 70% of its revenue over the next five-six years, marking a sharp shift from its traditional generics-led model as decades of investment in drug discovery begins to pay off, chairman and managing director Glenn Saldanha told Rica Bhattacharyya & Vikas Dandekar. Edited excerpts:

Your long bet on innovation has started paying off. What does the road ahead look like?

We spent 15 years establishing a world-class platform, so over the next five years you'll see a lot of products coming out of it. We believe these can be valuable in oncology, across different tumour types, both solid tumours and haematological cancers, with ISB 2001 as the frontrunner. We're leveraging the tech to develop what we call a host of next-generation products.

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How does the innovation platform evolve from here?

Every product we are developing is next-generation-whether tri-specific, multi-specific, targeting multiple sites, or targeting different modalities in oncology. We don't do run-of-the-mill products anymore. We've already stated publicly that we'll file one IND (investigational new drug application) every year starting with 2301 this year, in which for the first time globally, someone has tried to work on T-cell (T-lymphocytes) activation while also engaging NK cells (natural killer cells). This will be followed by 2302 next year, then 2501 the following year, and so on. That development is all about how we can continue to leverage the technology and the platform. The key is how differentiated each one is.

How do you see the revenue mix changing?

Over the next 5-10 years, that transition to becoming more innovation-led will happen. With almost 70% of our business being innovative over the next 5-6 years, that change is coming.

How is ISB 2001 progressing?

It's been great. ISB 2001 continues to progress well. Both AbbVie (the licensing partner for the product) and we are excited about the progress of the asset. 2001 is doing well in the clinics right now.

Where do you see Glenmark over the next decade?

My focus is more on doing things that can transform the company rather than only chasing a revenue target. Ultimately, if we're able to transform the company by bringing in all these innovative assets, starting with aumolertinib this year, followed by Trastuzumab rezetecan, along with envafolimab launching, then ISB 2001 coming through, and subsequent assets from IGI, in ten years we can be a powerhouse globally in oncology, alongside our dermatology and respiratory businesses.

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The focus is on moving up the value chain to be more innovation-led, while continuing to maintain and grow our generics business in the US and certain other markets. We're playing at both ends of the spectrum-the cost and affordability side through our generics franchise, and the high-end innovation.

What role can India play in global drug innovation?

India has a long journey ahead to reach that level of world-class innovation that puts us on the world stage. Innovation is a mindset; it starts with transforming the way you think about your business. It's a mindset of doing things differently; you must live and breathe the innovation you're pursuing. If that shift happens, India will be very successful in innovation, because we have great entrepreneurs, great promoters, excellent companies, good resources, and strong financial backing.

How do you view partnerships with Chinese biotech companies?

We've built a strong commercialisation platform in oncology, dermatology, and respiratory across India and emerging markets, so we naturally become a partner of choice because of the front-end platform we've built. That's why we've been able to secure these partnerships with companies. Even today, we have ongoing discussions to have more partnerships.

What role will artificial intelligence play in drug discovery?

AI will play a very important role across the innovation space. In the short run, I think it will mainly help with speed; improving efficiencies in bringing candidates forward and screening them. The human element will still be important in short run, given the knowledge base required, but as AI continues to learn and evolve, you'll see more use of it across the innovation space. It's an important tool to have if you want to be innovative.