Glenmark Pharmaceuticals is targeting a compounded annual growth rate (CAGR) of 10–15 percent for its India business over the next two to three years by shifting its focus up the value chain and expanding its portfolio of high-margin branded products.

Speaking during its Q1 FY26 earnings call, Chairman and MD Glenn Saldanha emphasised the company’s ambition to evolve into a predominantly branded player underpinned by greater value delivery. Two major oncology brands—Tevimbra (tislelizumab) for lung cancer and Brukinsa (zanubrutinib) for blood cancers—have already been launched, aiming to tap into extensive patent-protected markets.

Earlier in the financial year, Glenmark also discontinued several low-performing tail-end brands in India, reinforcing its strategy of streamlining the portfolio to improve profitability.

Despite a soft Q1 earnings performance, management remains confident of a turnaround in the second half, targeting a steadied EBITDA margin of around 23 percent. To sustain momentum, Glenmark plans to maintain its brisk pace of innovation with 10–11 product launches annually.

The company’s US focus remains on respiratory and injectable generics, where it has 52 pending ANDAs—24 of which are Paragraph IV filings, granting Glenmark up to 180 days of exclusivity upon approval. Approvals for generic versions of Flovent (asthma treatment) are expected from the second half of FY26.

Meanwhile, an innovation deal with AbbVie involving the oncology candidate ISB 2001 is nearing closure and is expected to improve Glenmark’s balance sheet. The transaction is poised to turn the company net-cash positive, reversing its current net debt of INR 1,500 crore.