Glenmark may soon foray into the injectible oncology segment in the US and Europe. The company has already started filing applications for drug approval in these markets.
This will mark the Mumbai-based drug maker’s entry into a third niche segment in the US, following its presence in dermatology and oral contraceptives.
Given a patent cliff and increasing competition in the generic space, several firms are now eyeing complex segments such as oncology, derma, opthalmics and inhalers for the next round of growth in the US.
“Oncology injectibles would be the third niche entry for us in the US. There are very few players in this segment and, hence, our margins are expected to be on the higher side,” a senior Glenmark official told Business Standard.
According to a pharma sector analyst, the US market for injectibles is around $20 billion and oncology would be a significant part.
Glenmark filed an Abbreviated New Drug Application during July-September and two to three more in the October-December quarter in the oncology injectible segment.
According to the official, the company would manufacture these products at its facility in Argentina. The facility has also been inspected by European drug regulatory authorities for supplies to the European market.
However, it is yet to get a go-ahead with the US authorities.
“Even with the impending patent cliff, Glenmark is confident of continuously growing its US business. The company has focused on differentiated products like dermatology and oral contraceptives, where it has clearly been ahead of the other global generic companies,” said Glenn Saldanha, chairman and managing director.
Glenmark is already supplying generic oncology injectibles from its Argentina facility to Latin America. The facility was acquired in 2005.
According to Saldanha, the company will continue to focus on differentiated opportunities, including hard to formulate products.