Generic drug makers seek new ways to do business
Mumbai
SIXTEEN years ago, Glenn Saldanha took over his father's business making copycat versions of novel medicines and added a side bet of his own: Instead of just imitating old drugs, his family firm would try to innovate completely new ones too.
Investors complained, competitors were mystified and Mr Saldanha's father was sceptical. Nevertheless, Mr Saldanha pressed ahead in the painstaking trial and error process of new drug discovery. Now, he said, his Mumbai-based Glenmark Pharmaceuticals Ltd is in the home stretch and one of its candidates should hit the market in the next five years.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
Australia’s retail sales volumes fall 0.4% in Q1
Possible class action lawsuit against Cordlife by customers could take at least 2 years
Chinese tariffs could leave cognac makers with too much brandy
Holiday Inn owner IHG’s Q1 revenue up 2.6%, leisure travel demand remains strong
WSJ moves Asia headquarters from Hong Kong to Singapore