PressRelease

ForImmediateRelease

GlenmarkUnveilsitsStrategicBlueprintforTransitionintoanInnovationLedGlobal
PharmaceuticalOrganizationintheNextDecade

LeveragesCompanysindustryleadingcapabilitiestoexpanddiscoveryanddevelopmentof
Glenmarksrobustgenericsandinnovativeportfolio
Focusesresourcesongrowthcatalysts
o Focusoninnovativenewmolecularentities(NME)
o Filingasmanyasninenewdrugapplication(NDA)/biologiclicenseapplication(BLAs)in
thenext10years
o Targeting30percentoftotalrevenuesfromspecialtyandinnovationsegmentsoverthe
nextdecade

Mumbai, India December 19, 2016: Glenmark Pharmaceuticals Ltd. (GPL), a global researchdriven,
integrated pharmaceutical company headquartered at Mumbai, today announced its Strategic
Blueprint to Transition into an Innovationled Global Pharmaceutical Organization over the next
decade. The Blueprint conveys the Companys greater business alignment expanding generics to
prioritizingresearchanddevelopmenteffortsinthreekeytherapeuticareas:oncology,respiratoryand
dermatology.Theinnovativeoncologypipeline,withcandidatestargetingmultipletumors,isthetop
prioritywiththegreaterpromisetodelivernovel,firstinclassmoleculesandhelpGlenmarkevolveinto
afullycommercialized,innovationledpharmaceuticalcompany.

Since2000,ithasbeentheprimaryobjectiveofGlenmarktofacilitatetheCompany'sevolutionfroma
generics organization to a fully integrated, globally commercialized pharmaceutical company with
innovativeproducts,"statedGlennSaldanha,Chairman&ManagingDirector."Overthelast16years,
we have created significant shareholder value and this has been possible becauseof our continuous
investmentsinR&D.Asweprepareforthenextwaveofgrowth,wehavebuiltstrongcapabilitiesthat
uniquelypositionsustodifferentiateourproductofferingsprimarilyinourcoretherapyareasandwill
investacrossthevaluechainfromgenericstonewmolecularentitiesinourefforttobuildatrulyglobal
pharmaceuticalorganization.

GlenmarkisanearlyleaderatthepointofconvergenceofgenericandinnovativepharmaceuticalR&D.
With endtoend capabilities from R&D to fullscale manufacturing, both in small molecules & novel
biologics.TheCompanyenjoysanenviablemarketpositionofselfreliance,strongIPleadershipanda
globalfootprintforrapidmarketpenetration.Theseintellectualassetsarealreadyproducingresultsfor
theCompanywithaspecialtyandNewMolecularEntity(NME)pipelineconsistingofnineassetsinthe
threecoreareas,fourofwhichareinclinicalorlatepreclinicaldevelopment.Thecompanyexpectsto
launchitsspecialtybusinessintheU.S.withitsfirstFDANDAapprovalinrespiratorywithin35years.

The strategic blueprint also outlines aggressive plans to increase Glenmarks presence worldwide by
strengtheningfocusoncomplexgenericsincludinginjectables,expandingitsmanufacturingfootprint
(growingfromtwoformulationfacilitiesto17).Currently,theCompanyhasmorethan110Abbreviated
New Drug Application (ANDAs) approved and an additional 135 products in regulatory review or in
developmentintheUS.Basedonthepowerofthepipeline,Glenmarkexpectstofile2025ANDAsand
launch20genericproductsannuallyintheUS.Itsbusinessinemergingmarketsisalsowellpositioned
forcontinuousandsustainedgrowthoveralongperiodintime

Building from our enviably strong foundation has given us operational and financial flexibility that
allowsustoexecuteonourambitiousplans,weexpectthenextwaveofourgrowthtobeasimpressive
asourfirst,addedSaldanha."

ClickhereforfullStrategicBlueprintpresentation.

AboutGlenmarkPharmaceuticalsLtd.:
Glenmark Pharmaceuticals Ltd. (GPL) is a researchdriven, global, integrated pharmaceutical
organization headquartered at Mumbai, India. It is ranked among the top 80 Pharma & Biotech
companiesoftheworldintermsofrevenue(SCRIP100Rankingspublishedintheyear2016).Glenmark
isaleadingplayerinthediscoveryofnewmoleculesbothNCEs(newchemicalentity)andNBEs(new
biological entity). Glenmark has several molecules in various stages of clinical development and is
primarily focused in the areas of Inflammation [asthma/COPD, rheumatoid arthritis etc.] and Pain
[neuropathic pain and inflammatory pain]. The company has a significant presence in the branded
genericsmarketsacrossemergingeconomiesincludingIndia.GPLalongwithitssubsidiariesoperate17
manufacturing facilities across four countries and has five R&D centers. The Generics business of
GlenmarkservicestherequirementsoftheUSandWesternEuropeanmarkets.TheAPIbusinesssellsits
productsinover80countriesincludingtheUS,EU,SouthAmericaandIndia.

Forfurtherinformation,pleasecontact:
RamkumarUppara/ShibaniShah
Glenmark,Mumbai,India
Tel:[+9122]40189984/9348
Email:corpcomm@glenmarkpharma.com

StrategicBlueprintfortheNextDecade

19th December,2016

Disclaimer
These materials have been prepared by Glenmark Pharmaceuticals (Glenmark or the Company) solely for informational purposes, and are
strictly confidential and may not be taken away, reproduced or redistributed to any other person. By attending this presentation, participants
agree not to remove this document from the conference room where such documents are provided without express written consent from the
Company. Participants agree further not to photograph, copy or otherwise reproduce these materials at any point of time during the
presentation or while in your possession. By attending this presentation, you are agreeing to be bound by the foregoing restrictions. Any failure
to comply with these restrictions may result in a violation of applicable laws and commencement of legal proceedings against you

It is not the Companys intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the
Companys financial position or prospects. The information contained in these materials has not been independently verified and is subject to
verification, completion and change without notice. The information contained in these materials is current as of the date hereof and is subject
to change without notice, and its accuracy is not guaranteed. The Company is not under any obligation to update or keep current the
information contained in these materials subsequent to the date hereof. Accordingly, no representation or warranty, express or implied, is made
or given by or on behalf of the Company, or any of its directors and affiliates or any other person, as to, and no reliance should be placed for any
purposes whatsoever on, the fairness, accuracy, completeness or correctness of, or any errors or omissions in, the information contained in
these materials. Neither the Company, its directors, officers or employees nor any other person accept any liability whatsoever for any loss
howsoever arising from any use of these materials or their contents or otherwise arising in connection therewith

These materials contain historical information of the Company which should not be regarded as an indication of future performance or results.
These materials may also contain forwardlooking statements that are, by their nature, subject to significant risks and uncertainties. These
forwardlooking statements reflect the Companys current views with respect to future events and are not a guarantee of future performance or
results. Actual results, performance or achievements of the Company may differ materially from any future results, performance or
achievements expressed or implied by such forwardlooking statements. Such forwardlooking statements are based on numerous assumptions
regarding the Companys present and future business strategies and the environment in which the Company will operate in the future, and must
be read together with such assumptions. Predictions, projections or forecasts of the economy or economic trends of the markets are not
necessarily indicative of the future or likely performance of the Company, and the forecast financial performance of the Company is not
guaranteed. No reliance should be placed on these forwardlooking statements, if any.

GlenmarkTeam

Conditionforoffer
success

Conditionforoffer
success

Conditionforoffer
success

RobertMatsuk

GlennSaldanha

Dr. FredGrossman

President
NorthAmerica+API

Chairman&MD

Conditionforoffer
success

President
ChiefMedicalOfficer

Conditionforoffer
success

Dr. KurtStoeckli

PGanesh

President
ChiefScientificOfficer

President
ChiefFinanceOfficer

Agenda

Journeyoverthelast15years
StrategicRoadmap
GlobalGenericsBusiness
ResearchandDevelopment
Summary

Agenda

Journeyoverthelast15years
StrategicRoadmap
GlobalGenericsBusiness
ResearchandDevelopment
Summary

Evolvedintoasuccessfulglobalorganizationoverthe
last15years
Year2000
WealthCreation

Manufacturing
Footprint
International
Operations

Year2016

Revenue:US$31mn

Revenue:US$1.2bn

MarketCap.:US$40mn

MarketCap:US$3.9bn

2formulationsfacilities

17 facilities across4continents;7
approvedbyUSFDA

~8%oftotalrevenues

>70% oftotalrevenues
PresentinUS,EU,RCIS,LATAMetc.
Novelmoleculesinpipeline

Innovation

InitiationofNMEresearch

FocusedonOncology,Dermatology
andRespiratory

Employees

<1,000:PrimarilyinIndia

>12,000:Spreadover50countries

Note:RevenuesforFY2000andFY2016.MarketCapitalizationisasof31st March2000and16th Dec2016.FXRate:US$1=INR67

Robustgrowthexhibitedacrossbusinesssegments
NetRevenues(INRbn)

CAGR:
19%

CAGRof19%overlastfiveyears

Branded
Formulations

FocusedonbrandbuildinginselectTAs
Strongfieldforceof5,500+ globally

19.0
FY12

29.0

33.3

37.6

24.7
FY13

FY14

FY15

FY16

NetRevenues(INRbn)
CAGR:
20%

CAGRof20%overlastfiveyears

Generic
Formulations

Growthdrivenbynicheproductsand
selectedlargescaleopportunities
LeadingGx dermaplayerintheUS

15.1
FY12

20.6
FY13

25.3

26.8

FY14

FY15

31.4

FY16

NetRevenues(INRbn)
CAGR:
21%

CAGRof21%overlastfiveyears

API

Leadershippositioninmultipleproducts
Filed~200DMFsinvariousmarkets

Note:NetrevenuesinGenericsFormulationschartincludeUS,WEUandCEE

3.1

4.0

FY12

FY13

5.4

6.1

6.7

FY14

FY15

FY16

InitiatednovelR&Din2000withavisiontobring
innovativemoleculestomarket
GBR1302:Firstbispecific
antibodyentersclinic

2016

GBR830entersPhase2

2015
SCRIPAwardforBest
OverallPipeline

20062007

2000

2012

Swissmedic approvalfor
GMPmanufacturing

20102011

NBER&Dcenterin
Switzerland

Initiationof
NCER&D

2014

Filedforpatent
onBEAT

20042005

Outlicensingdeals
withSanofi
OutlicensingdealswithEli
LillyandMerck

Outlicensingdeals
withForestandTeijin

Sevenoutlicensingdealssince2004,withcumulativerevenuesofUS$200+mn

Manufacturingnetworkspreadover4continents;
7facilitiesapprovedbytheUSFDA
CommissionedUSmanufacturingsitein2016andobtainedDEAlicenseforcontrolledsubstances
ANDAfilingfromCY17onwards

VysokeMyto,
CzechRepublic
Monroe,USA

Neuchatel,
Switzerland

8 FormulationFacilities&5
APIFacilities
India

FormulationFacility
APIFacility

Goa

Ankleshwar

USFDAApproved

Indore

Dahej

BiologicsFacility

Baddi(2)

Aurangabad(A+F)

Nalagarh

Kurkumbh

Nashik

Mohol

Pilar,Argentina

Sikkim

10

Agenda

Journeyoverthelast15years
StrategicRoadmap
GlobalGenericsBusiness
ResearchandDevelopment
Summary

11

Strategicelementstoovercomethekeychallenges
facedbythePharmaceuticalsIndustry
IndustryChallenges

StrategicElements

Declineinsmallmoleculegenerics
opportunitiesintheUS

Focuson3coretherapyareas
Oncology,DermatologyandRespiratory

Increaseincompetitivelandscapedue
toentryofnewplayers

Continuetogrowgenericsbusiness
throughdifferentiatedproductsand
launchspecialtyandinnovative
products

Consolidationofcompetitorsand
customerbaseintheUSandEU
Pricingpressureindevelopedmarkets
drivenbyneedtomanagehealthcare
budget
Pushtowardslocalmanufacturingof
genericsinkeyemergingmarkets

Enhancedevelopmenteffortsonniche
generics andcomplextechnologies
suchassemisolidsandHormones
Enternewdosageformswithlow
competitiveintensitye.g.Inhalers
AdvanceNMEpipelineandcontinueto
lookforpartneringopportunities

12

Roadmaptoevolveintoainnovativeresearchledfirm
andlaunchproprietaryproducts

Furtherpenetrateexisting
markets
Increasepresencein
complexgenerics
2majorgeographies US
andIndiacontributing~60%
ofsales
Genericformulationplayer
intheUSandWEU
Brandedformulationin
othermarkets
NMEpipelineinearlyto
midstageofdevelopment
Manufacturingbase
primarilyinIndia

Currentposition

Launchinnovativeand
specialtyproductsin
multiplemarkets
~30%oftotalrevenues
fromspecialtyand
innovationsegments

Launchspecialtybusiness
intheUS
NMEpipelineinadvanced
stageofdevelopment
Expandmanufacturing
footprint

Mediumtermfocus
(next35years)

Longtermfocus
(next510years)

13

Focusingacrossthevaluechainincoretherapyareas
Oncology

Dermatology

Respiratory

Specialty/ComplexGx
Generics
Oncologyinjectablesfiledin
US;LaunchexpectedinFY18

Ranked#2inIndiaandone
oftheleadersintheUSGx
market
InlicensedgSeretideforEU
3inhalersindevelopment
fortheUS

Multiplecomplex
injectablesindevelopment

Launchedunique
combinationsinIndiaand
otherEMs
Threespecialtyprogramsin
pipelinefortheUS 1in
phase3

InnovativeProducts
FourNBEsinclinicalorlate
preclinicalphase

GBR830,targetingatopic
dermatitisinphase2

Assetstargetingrespiratory
disordersinlatediscovery
stage

14

Agenda

Journeyoverthelast15years
StrategicRoadmap
GlobalGenericsBusiness
ResearchandDevelopment
Summary

15

Launchofniche,complexgenericsandspecialty
productstodriveUSBusiness
Revenuesdoubledinthelast5years
Netrevenue(INRmn)

KeyGrowthDriversinthenext45years

SoleFTFgZetialaunchedon12th December

CAGR:
19%

24,203
20,398

20,270
16,887
12,137

Largeproductportfolio:110+ANDAs
approved,60+underapprovaland75+in
development
Top10productsaccountfor~45%ofsales
andTop20accountfor~60%n

FY12

FY13

FY14

FY15

FY16

WelldiversifiedPortfolio
Mupirocin Crm (14.7%)
Pravastatin (9.5%)
Gabapentin (6.6%)

Targetingtofile2025ANDAsandlaunch
~20productsannually
Leverageexpertiseinthedermatology
segment 15+ANDAspendingforapproval
and20+productsindevelopment

Omeprazole (2.9%)
Naproxen Sodium (2.2%)
Naproxen (1.96%)
Ursodiol (1.94%)
Ranitidine (1.91%)
Oxcarbazepine (1.79%)
Desmopressin Tab (1.77%)
Others (54.6%)

Source:IMSNSPMATOct2016fortheUSmarket

Enhancequalityofpipelinethrough
additionofcomplexgenericsandniche
technologies
Launchofspecialtyrespiratoryproductsin
thenext34years

16

Internalcapabilitiesandexternalpartnershipstodrive
highqualitypipeline
DistributionofANDAsfiled(Count)
Hormones
(Orals)
15%

OptimalcombinationofinternalR&Dand
strategicdevelopmentpartnerships

FY1216

OralSolids
46%

Onco
Injectables
18%

Launchofinhalersinthenext34years
Workingon2additionalnewdosageforms,with
potentiallaunchinCY18andCY19

Topicals
21%
Control
Substances
7%

~15inlicensingdealseithersignedorinadvance
discussionstage

FY1721
OralSolids
22%

Drug+
Device
16%
Hormones
8%
Onco
Injectables
12%

Targetingmultiplenewdosageformsto
differentiateagainstcompetition

Focusonsigningglobaldeals:Expectedtolaunch
productsfromCY17onwards
Totalmarketsizeofdealssignedorunder
discussionsisUS$~12bn

Topicals
35%

Agreementsalreadyexecutedincludeproducts
suchasgAbraxane,gNuvaring andgSuboxone

17

Indiabusinesstargetingtodominateselectedtherapies
andgrowfasterthanoverallmarket
Robustgrowthexhibitedinthelastfiveyears

KeyGrowthDriversinthenext45years

NetRevenues(INRmn)

Strengthenpresenceinlargeandfast
growingtherapies

13,096

CAGR:
20.4%

21,093
17,490

15,105

Dermatology,Cardiac,AntiDiabetic,
RespiratoryandOncology

10,021

FY12

FY13

FY14

FY15

FY16

Consistentlygrowingat>1.5xofIPMgrowth

Leveragerecentlylaunchedproductssuch
asTeneligliptinandDigihaler

29%
20%
14%

14%
9%

Oct'12

Oct'13

IPMgrowth

12%

Oct'14

20%
15%

Continuetobuildstrongbrands 8brands
amongsttop300intheIPM

19%
12%

Oct'15

Oct'16

Glenmarkgrowth

Source:IMSTotalSalesAuditMATOct16.IPM:IndianPharmaceuticalsMarket

Introduceinnovativeproductsincore
therapyareas Internaldevelopmentand
Inlicensing
GrowOTCbusinessthroughfocuson
existingbrandslikeVwashandCandid
Powderandnewlaunches

18

Niche,complexgenericstodrivegrowthinEurope
Stronggrowthexhibitedinthelastfiveyears
NetRevenues(INRmn)

CAGR:
24.3%

6,445

7,171

5,061
3,008

3,724

KeyGrowthDriversinthenext45years

Leverageexistinginfrastructureand
maximizevaluefromexistingmarkets UK,
DE,CEE
Selectivelyenter12marketsprimarilyin
thetendersegmente.g.EnteredSpainin
FY16

Wideportfolioofproducts

Focusonproducts,technologieswith
limitedcompetitiveintensity

Others,
26%

Lookingtolaunchcomplexgenericproducts
inthenearfuture

FY12

FY13

FY14

Top10,
43%

FY15

FY16

Topproducts:
Nebivolol
Perindopril
Aripiprazole
Atovaquone+Proguanil
Pregabalin
Quetiapine
Telmisartan
Ataralgin

Top21
30,11%
Top11
20,20%

e.g.InlicensedgSeretide(DPI)for15
countrieswithmarketsizeofUS$~700mn
ExpectedtolaunchinFY18

Continuetoleverageinlicensingeffortsto
strengthentheportfolioinadditionto
internaldevelopmentefforts

19

LATAMandRoWgrowthtobedrivenbylargemarkets
andfocusoncoretherapies
LATAM

KeyGrowthDriversinthenext45years

NetRevenues(INRmn)

3,012

3,468

CAGR:
26%

7,640

7,495

LATAM
Leveragepresenceinlargemarketssuchas
Brazil,MexicoandArgentina

4,046

Strengthenpresenceincoretherapyareas
Dermatology,RespiratoryandOncology
FY12

FY13

FY14

FY15

FY16

RoW(Russia,Asia,AfricaandCIS)

BusinesstoturnprofitablefromFY18
onwards

RestofWorld(RoW)
NetRevenues(INRmn)

CAGR:
11%

9,869
8,123

8,122

9,033

KeymarketsintheregionincludeRussia,
Malaysia,Philippines,KenyaandSouthAfrica
Limitfrontendpresencetoexistingmarkets
(~900fieldforce)andusepartnershipsin
othermarkets

5,926

Strengthenpresenceinselecttherapiesand
launchdifferentiatedproducts
FY12

FY13

FY14

FY15

FY16

20

Agenda

Journeyoverthelast15years
StrategicRoadmap
GlobalGenericsBusiness
ResearchandDevelopment
Summary

21

R&Dcapabilitiesacrossthevaluechain
EndtoEndR&Dcapability NewChemicalEntities,NovelBiologics,GenericAPIsandFormulations

GenericAPI
Supportsbothinternalandexternalmarket
demand
~200DMFsfiledacrosskeymarkets:US,
Europe,Japanetc.

GenericandSpecialtyFormulations
PrimarilybasedoutofIndia
Dosageforms Solids,Semisolids,Inhalers,
oralliquids,parenteraletc.
FocusonNovelDrugDeliverySystems(NDDS)

Abilitytodevelopandscaleupmoleculeswith
complexchemistry

NovelChemicalEntities

NovelBiologics

Teamof350+involvedinR&DonNCEs

Teamof110+involvedinNBER&D

Targetselectiontoclinicaldevelopment

Monoclonalantibodiestobispecific and
multivalentantibodies

KeyTAs:Respiratory,inflammatorydisorders
EvaluationofNovelSMimmunomodulators in
ImmunoOncology

ProprietarytechnologyPlatform:BEAT
KeyTAs:OncologyandImmunology(Derma)

NovelandSpecialtypipelinetofocusonOncology,Immunology(Dermatology)andRespiratory

22

OverallNMEandSpecialtypipeline
Therapy

Molecule

MoA/Class

Indication

Oncology

GBR1302

HER2XCD3

BreastCancer
GastricCancer

Oncology

GBR1342

CD38XCD3

MultipleMyeloma

Oncology

GBR1372

EGFRXCD3

ColorectalCancer

Oncology

GBR8383

OX40RAgonist

MultipleCancers

Dermatology GBR830

Pre
Clinical

Phase1

Phase2

Phase3 Approval

OX40Antagonist AtopicDermatitis

Respiratory

GRC388XX

Undisclosed

COPD,IPF

Respiratory

GSP301

Steroid+AH

AllergicRhinitis

Respiratory

GSP304

LAMA

Respiratory

GBR310

Biosimilar

Asthma,CIU

Pain

GRC27864

mPGES1

ChronicPain

COPD

Note:NoncoreassetssuchasGRC17536,GRB900,GBR500deprioritizedforanyfurtherinvestment.These3andGRC27864are candidatesforoutlicensing

23

Oncology:Significantunmetmedicalneedsacross
indicationsbeingpursued
Resistantmetastaticbreastcancer(mBC)

GBR1302
Breast* and
GastricCancer

Primaryresistancetotrastuzumab ~6070%15
~70%ofpatientsacquiredresistancetotrastuzumab within1yearoftreatment15
LackofadequatetreatmentoptionsforHER2equivocalmBC
GastricCancer
2nd leadingcauseofcancerrelatedmortalityworldwide.Only2targeted
therapies trastuzumab andramucirumab

GBR1342

NewtreatmentshaveimprovedthesurvivalratebutMMstillnotcurable

Multiple
Myeloma

CurrenttreatmentregimesnoteffectiveinaggressivecasesofMM

GBR1372

3rd mostcommoncancerwithstageIVincidencerateof~20%

Substantialchallengetomanagetoxicityduetoagedpatientpopulation

~60%ofpatientsprogressto2Landover30%progressto3Ltreatmentoptions

Colorectal
Cancer

Lackofefficacious& safetreatmentoptions,esp.RASmutantandrefractorypatients
Cetuximab andpanitumumab approvedonlyinKRASWT

Note:*Resistantmetastaticbreastcancer,HER2equivocalmetastaticBreastCancer
1.WongAL,etal.IntJBreastCancer.2012;2012:415170;2.ArribasJ,etal.CancerRes.2011;71(5):15151519;3.SpectorNL,etal.JClinOncol.2009;27(34):58385847;4.PohlmannPR,etal.ClinCancerRes.
2009;15(24):74797491;5.VuT,etal.FrontOncol.2012;2:62

24

Respiratory:Presenceacrossthediseaseanddevice
spectrum
3Specialtyand3Genericassetsindevelopment
NCEprogramisinlatediscoveryphase
TargetingtolaunchspecialtyproductsintheUSinnext34yearsalongwithgenerics

DiseaseSegments

DevicePlatforms

Note:Imagesareforrepresentationpurposeonly

Asthma

MDI
DPI

COPD

Injectable

AllergicRhinitis

Nebuliser

NasalSprays

25

Expectedtofile9NDA/BLAinthenextdecadeacross
NMEandSpecialtyportfolio

TherapyArea

Molecule

FilingTimelines(NDA/BLA)

Status
2019

GSP301

Phase3

GSP304

Phase2

GBR310

PreClinical

GRC388XX

PreClinical

Respiratory

2020

2021

2022

2023andBeyond

Phase2

GBR1302

Phase1

GBR1342

PreClinical

GBR1372

PreClinical

GBR8383

PreClinical

Dermatology GBR830

Oncology

Note:Abovetimelinesarebasedoncurrentlyplannedstudies.Theymaychangebasedupondata,regulatoryagenciesfeedbacketc.

26

Agenda

Journeyoverthelast15years
StrategicRoadmap
GlobalGenericsBusiness
ResearchandDevelopment
Summary

27

Summary
Glenmarkin2016

Glenmarkin2020

2majorgeographies
USandIndia

Enhancedpresencein
existingmarkets

Revenuestream
consistingofpurely
genericsportfolio

Portfolioofcomplex
genericsproducts

Glenmarkin2025
Launchofinnovative
products
Specialtybusinessramp
upintheUS

Launchofspecialty
businessintheUS

SpecialtyandInnovative
segmentstobethe
maingrowthdrivers

NMEpipelineinearlyto
midstages

NMEpipelinein
advancedstageof
development

Increasedpresencein
complexgenericsspace

Manufacturingbase
primarilyinIndia

Globalmanufacturing
footprint

~30%oftotalrevenues
fromspecialtyand
innovationsegments

Profitabilitymarginat
~20%

Profitabilitymarginat
~23%

US,EUbusinessbased
onsubstitutionmodel

Profitabilitymarginat
~25%

28

ThankYou