Global pharma majors cannot ignore India, says Saldhana

AHMEDABAD: Global pharma majors cannot ignore India as a destination for world class quality manufacturing facility and drug discovery, Glenmark Pharmaceutical CEO Glen Saldhana said here today.

He said India having forayed into extensive R&D and drug discovery "is the next emerging hub for outsourcing in pharma due to low cost operations, besides it being destination for world class quality manufacturing facility, and drug discovery."

Speaking at Confluence-2008, the annual international summit of Indian Institute of Management, Ahmedabad, he noted that "India as a destination cannot be ignored by any major global pharma major."

"We continue to be passionate with what innovation can do to an organisation," Saldhana said.
Saldhana further said, "the company has 15 molecules in clinical development, six molecules which are in advance clinical trials, two of them in phase-2b, and if one of these drugs go to market the potential upside is huge."

For example, Acumalas molecule is expected to be launched in 2012 and patent runs through 2024. So from 2012-2024 one would get mid-term royalties close to 15 per cent so one can imagine on 2-3 billion dollar drug worldwide what those numbers are, he added.