Our Vision

1
Our Vision To emerge as a leading,
research-based, global, integrated
pharmaceutical company
Our Values
2
Safe Harbour Statement

• This presentation has been prepared by Glenmark.
  
• The information, statements and analysis made in
  this presentation describing companys
  objectives, projections and estimates are forward
  looking statements and progressive within the
  meaning of applicable security Laws and
  Regulations.
• The analysis contained herein is based on
  numerous assumptions. Actual result may vary from
  those expressed or implied depending upon
  economic conditions, government policies and
  other incidental factors.
• No representation or warranty, either expressed
  or implied, is provided in relation to this
  presentation. This presentation should not be
  regarded by recipients as a substitute for the
  exercise of their own judgment.

3
Agenda

• Glenmark
• Glenmark Pharmaceuticals Limited (GPL)
  Specialty Business
• Glenmark Generics Limited (GGL- wholly owned sub.
  of GPL) Generics Business
• Glenmark Consolidated Financials and Projections

4
Glenmark has made rapid strides towards
achievement of vision
Glenmark

• Research efforts in Small molecules, Biologics
  and Generics
• 13 new molecules under development
• Over 110 mn of cash received from
  out-licensing partners Further milestones worth
  over 600 mn

Research based

• Pre 2000 Glenmark
• Saleslt 20 mn
• Domestic focus
• lt5 of exports

Glenmark today Revenues 499 mn India based
MNC gt60 of exports

• Over 5000 employees across 5 continents
• Mfg facilities in 4 countries
• Operates in over 85 countries
• Front ends in US, India, Brazil and other
  markets worldwide

Global

• 3 API plants
• 8 finished dosage plants
• 3 research facilities

Integrated
5
Glenmark - Global Footprint
1 Dosage Plant, HP, India
Glenmark Generics Europe Limited, London, UK
Medicamenta, Czech Republic
1 Dosage Plant Czech Republic
1 Dosage Plant, Maharashtra, India
Glenmark Generics Ltd., US
Glenmark India
Glenmark Pharma Europe Limited, London, UK
3 Dosage Plants, Goa, India
1 Dosage Plant - Brazil
RD for NCEs, India
Glenmark Generics SA, Argentina
Bowter Bartlett South Arica
RD for Generics, India
1 Dosage Plant - Argentina
RD for Biologics, Switzerland
Glenmark Farmacetica Ltda., Brazil
2 API Plants, Maharashtra,India
Several other subsidiaries and representative
offices exist across the world
6
Glenmark - Financials

• Note
• Average conversion rate for FY 2006-07 of Rs.
  44.14 / USD 1.00
• Average conversion rate for FY 2007-08 of Rs.
  40.28 / USD 1.00

7
Glenmark
Glenmark has shown consistent robust growth
across businesses
2
3
1
ending Mar06
ending Mar07
ending Mar08
Revenues in mn

• Note
• Average conversion rate for FY 2005-06 of Rs.
  44.28 / USD 1.00
• Average conversion rate for FY 2006-07 of Rs.
  44.14 / USD 1.00
• Average conversion rate for FY 2007-08 of Rs.
  40.28 / USD 1.00

8
Glenmark
Glenmark is divided into two main businesses with
different business focus
Specialty/Proprietary
Generics
Glenmark Generics Ltd (GGL)
Glenmark Pharmaceuticals Ltd (GPL)
Wholly owned subsidiary
To be listed in India during FY 2009
9
Agenda

• Glenmark
• Glenmark Pharmaceuticals Limited (GPL)
  Specialty Business
• Glenmark Generics Limited (GGL- wholly owned sub.
  of GPL) Generics Business
• Glenmark Consolidated Financials and Projections

10
Vision for Glenmark Pharmaceuticals Limited
Global end-to-end Specialty Company
Product Portfolio Launch two proprietary
drugs Build late stage pipeline Market
Presence Proprietary product front ends in US,
key ROW European markets Market
Positioning Innovation led company Differentiated
branded generic company
Target 2015
Strategy
Licensing
Build differentiated product franchise
Invest in building brands
Expand into new territories
Transition into a proprietary product marketing
company
11
Global Therapeutic Focus
Glenmark Pharmaceuticals Limited Specialty
Business
Inflammation
Pain, Respiratory (Asthma/COPD), Rheumatoid
Arthritis
Innovative RD Therapeutic Focus
Metabolic Disorders
Diabetes (Type II), Obesity
Dermatology
Psoriasis, Pruritus, Atopic Dermatitis
12
Glenmark Pharmaceuticals Limited Specialty
Business
Business Unit Structure
Glenmark Pharmaceuticals Ltd. (GPL)
Finished Dosage Formulations
RD
NCE
Europe
US (Inorganic entry)
ROW (Rest of the World)
Biologics (Swiss)
13
Research and Development (RD)
14
Glenmarks RD Efforts both small molecules and
biologics
Glenmark Pharmaceuticals Limited Specialty
Business

• New Chemical Entity (NCE) Research
• Over 300 scientists
• Based in Mumbai, India

• New Biological Entity (NBE) Research
• Over 55 scientists
• Based in Switzerland

Pipeline of 13 molecules 8 NCEs and 5 NBEs
15
Glenmark Pharmaceuticals Limited Specialty
Business
Research Pipeline 13 molecules at various stages
of development
Screening
World class targets
DPP-IV, PDE IV, CB2, TRPV1, SCD1, VLA2, TRPV3 etc.
Discovery
Phase I
Phase IIb
Pre-clinical
One undisclosed NCE
GRC 4039
Oglemilast (1)
GRC 10693
13 research molecules
GRC 9332
Melogliptin (2)
GBR 500
Three undisclosed NBEs
GRC 6211 (3)
GBR 600
GRC 17173

• Out-licensed to Forest Labs and Tejin Pharma
• Out-licensed to Merck KGaA All rights received
  back
• Out-licensed to Eli Lilly Co.

NBE
16
Progress on Research Pipeline
Glenmark Pharmaceuticals Limited Specialty
Business
17
Oglemilast Target PhosphoDiesterase (PDE) IV
Inhibitor
Glenmark Pharmaceuticals Limited Specialty
Business
18
GRC 6211 Target Transient Receptor Potential
Vanilloid (TRPV)1 Antagonist
Glenmark Pharmaceuticals Limited Specialty
Business
19
Melogliptin Target Dipeptidyl Peptidase (DPP)
IV Inhibitor
Glenmark Pharmaceuticals Limited Specialty
Business
20
GRC 4039 Target (a) PhosphoDiesterase (PDE) IV
Inhibitor (b) TNF Alpha Inhibitor (c) T-Cell
Cytokine Inhibitor
Glenmark Pharmaceuticals Limited Specialty
Business
21
GRC 10693 Target Cannabinoid-2 (CB-2) Receptor
Agonist
Glenmark Pharmaceuticals Limited Specialty
Business
22
GRC 9332 Target Stearoyl CoA Desaturase-1(SCD1)
Inhibitor
Glenmark Pharmaceuticals Limited Specialty
Business
23
GRC 17173 Target Transient Receptor Potential
Vanilloid (TRPV)3 Antagonist
Glenmark Pharmaceuticals Limited Specialty
Business
24
GBR 500 Target (a) Alpha2 ßeta1 Integrin
Antagonist (b) Very Late Antigen
(VLA2)2
Glenmark Pharmaceuticals Limited Specialty
Business
25
GBR 600 Target Undisclosed
Glenmark Pharmaceuticals Limited Specialty
Business
26
GPL- Specialty BusinessRoW, Europe and US
ROW
US (inorganic route)
Europe (80)
India (2000)
Latin America (200)
Asia (200)
Africa (160)
CIS (300)
Sales force strength
27
Glenmarks strategy for future growth in RoW
markets
Glenmark Pharmaceuticals Limited Specialty
Business

• Focus on Top-15 markets
• High thrust on building branded business which
  currently accounts for over 85
• Launch of novel differentiated branded generics
  for getting a significant competitive edge
• Capitalize on local know-how (country heads in
  over 20 markets)
• Driving the business through qualified,
  experienced and dedicated field force
• Focus on sustainable doctor centric
  prescription based model for building brands
• Leverage on efficient and quality distribution
  network for better market penetration

CIS
Asia
Strategy
India
Africa
Australia
Latin America
28
RoW Markets India
29
India Performance FY 2008
Glenmark Pharmaceuticals Limited Specialty
Business
Revenues in mn
ending Mar08
ending Mar07
ending Mar09
ending Mar10

• Highlights
• Glenmark registered a growth of 21 higher than
  the Indian pharma market growth at 15 (ORG Feb
  2008)
• Currently commands 1.36 market share up from
  1.29 in FY 2007 (ORG Feb 2008)
• Currently ranked 24th in the highly fragmented
  Indian pharma market
• Top-10 brands contribute over 60 of India
  business

Projected
30
Glenmark Pharmaceuticals Limited Specialty
Business
India Action Plan

• Operates through 9 divisions
• Sales force gt 2000 medical representatives
• Markets over 250 products in India

Glenmarks presence

• Register growth of over 10
• Launch gt 20 new products
• Maintain leadership in dermatology and
  consolidate position in other therapies

Action Plan FY 2009
31
RoW Markets Latin America (LatAm)BrazilVenezue
la Mexico PeruChileBoliviaColumbiaEcuadorCa
ribbean countries
32
LatAm Performance FY 2008
Glenmark Pharmaceuticals Limited Specialty
Business
Revenues in mn
ending Mar08
ending Mar07
ending Mar09
ending Mar10

• Highlights
• Registered growth of over 65
• Launched 25 products across LatAm
• Filed for over 100 product approvals in FY 2008
• Top-10 brands contribute over 75 of LatAm
  business

Projected
33
Glenmark Pharmaceuticals Limited Specialty
Business
LatAm Action Plan

• LatAm Pharma Market gt 35 bn
• Brazil, Mexico, Argentina, Venezuela are the key
  markets
• Registered over 250 products in the LatAm
  markets
• Strong sales force setup of 200 medical
  representatives

Glenmarks Presence

• Register growth of over 25
• File for 80 product approvals and launch 60
  products
• Plans to enter Mexico during FY 2009

Action Plan FY 2009
Revenue contribution
FY 2010 (ending Mar10)
FY 2009 (ending Mar09)
Projected
34
RoW MarketsAustralasia (excluding India, CIS
Japan)MalaysiaPhilippinesIndonesiaChinaSouth
KoreaMyanmar VietnamSri LankaCambodiaAustrali
a
35
Australasia Performance FY 2008
Glenmark Pharmaceuticals Limited Specialty
Business
Revenues in mn
ending Mar08
ending Mar09
ending Mar10

• Highlights
• Launched over 60 products
• Filed for over 100 product approvals
• Top-10 brands contribute over 65 of the business

Projected
36
Glenmark Pharmaceuticals Limited Specialty
Business
Australasia Action Plan

• Australasia Pharma Market (excluding India,
  Japan, CIS) gt 55 bn
• China, Philippines, Malaysia, Indonesia,
  Australia are the key markets
• Registered over 400 branded generic products
  across Asian markets
• Recently entered Australia, China and Indonesia
• Strong sales force setup of 200 medical
  representatives

Glenmarks Presence

• Register growth of over 20
• File for 100 product approvals and launch 30
  products

Action Plan FY 2009
Revenue contribution
FY 2009 (ending Mar09)
FY 2010 (ending Mar10)
Projected
37
RoW MarketsAfricaSouth AfricaNigeriaKenya
SudanEgyptTanzaniaYemenIvory Coast Zambia
Mauritius Uganda Cameroon GhanaIncludes
middle east countries
38
Africa Performance FY 2008
Glenmark Pharmaceuticals Limited Specialty
Business
Revenues in mn
ending Mar08
ending Mar09
ending Mar10

• Highlights
• Launched 80 products across Africa
• Filed for over 150 product approvals across
  Africa
• Top-10 brands contribute over 85 of Africa
  business
• Glenmark marked its entry into Egypt by
  establishing an office

Projected
39
Glenmark Pharmaceuticals Limited Specialty
Business
Africa Action Plan

• Africa Pharma Market gt 10 bn
• South Africa, Nigeria, Sudan, Kenya, Egypt are
  key markets
• Register over 600 branded generic products
• Marketing products in over 30 countries Direct
  presence in 10 countries
• 160 sales representatives across Africa

Glenmarks Presence

• Register growth of over 35
• File for 75 products and launch 45 products
• Plans to enter Algeria, UAE
• Look for brand acquisition opportunities for
  entry/growth

Action Plan FY 2009
Revenue contribution
FY 2010 (ending Mar10)
FY 2009 (ending Mar09)
Projected
40
RoW MarketsCISRussia Ukraine
UzbekistanKazakhstan
41
CIS Performance FY 2008
Glenmark Pharmaceuticals Limited Specialty
Business
Revenues in mn
ending Mar08
ending Mar09
ending Mar10

• Highlights
• Company launched 40 products
• Filed for over 30 product approvals across CIS
• Top-5 brands contribute over 90 of CIS business
• Glenmarks brand Ascoril is the no 1 brand in the
  cough expectorant market in Russia

Projected
42
Glenmark Pharmaceuticals Limited Specialty
Business
CIS Action Plan

• CIS Pharma Market gt 15 bn
• Russia, Ukraine, Uzbekistan Kazakhstan are the
  key markets
• Registered over 70 branded generic products
• 300 medical representatives cover entire CIS

Glenmarks Presence

• Register growth of over 70
• File for 25 product approvals
• Launch 25 products

Action Plan FY 2009
Revenue contribution
FY 2010 (ending Mar10)
FY 2009 (ending Mar09)
Projected
43
Europe
44
Europe Performance FY 2008
Glenmark Pharmaceuticals Limited Specialty
Business

• Glenmark established its first commercial
  foothold in Europe by acquiring Medicamenta a.s,
  Czech Republic in 2007
• Glenmark also established its presence in Romania
  Bulgaria in 2008

Revenues in mn
ending Mar09
ending Mar10
ending Mar08
Projected
45
Europe Strategy for the future
Glenmark Pharmaceuticals Limited Specialty
Business

• Focus on CEE (Central Eastern European) markets
  which are primarily branded in nature
• Build/acquire front end infrastructure in CEE
  markets through sales force over the next 5 years
• Transition front-ends to selling/co-promoting
  Glenmarks proprietary medications that would
  reach the market in the next 3-5 years

46
Europe Branded Generics Market Key
characteristics
Glenmark Pharmaceuticals Limited Specialty
Business

• The opportunity in the branded generics market
  lies mostly in the Central Eastern European (CEE)
  countries and some new member states of the EU
  like Romania Bulgaria
• Glenmarks focus is on the six largest brand
  markets of Europe

47
Glenmark Pharmaceuticals Limited Specialty
Business
Europe Plans for FY 2009

• Double revenues each year for the next 3-4 years
• Enter Poland, Hungary and Turkey through
  organic/inorganic means
• Plan to launch at least 5 products

Revenue contribution
FY 2009
FY 2010
ending Mar09
ending Mar10
Projected
48
US plans to enter the specialty segment in the
near future
Glenmark Pharmaceuticals Limited Specialty
Business

• Initiate operations in the US during FY 2009
• Evaluate acquisition of a specialty
  company/brands with a primary care sales force
• Glenmark intends to conclude this acquisition
  over the next 12-18 months

49
Glenmark Pharmaceuticals Limited Specialty
Business
Infrastructure and facilities
Expansion Plans

• New formulation plant in India to be
  commissioned in FY 09
• NCE API facility in India to be commissioned in
  FY 09

50
Glenmark Pharmaceuticals Limited Specialty
Business
Financials and Projections Organic growth only
Revenues In mn
CAGR 29
377
504
303
Business Mix
(ending Mar 08)
(ending Mar 09)
(ending Mar 10)
Profits In mn
CAGR 30
123
157
93
In mn (Assumed exchange rate of 40.28
INR/USD for FY08 and 40 INR/USD for FY09 and
FY10)
51
Summary of key objectives FY 2009
Glenmark Pharmaceuticals Limited Specialty
Business

• Ensure at least eight molecules are in the
  clinical stages
• Ensure at least five molecules are in the Ph II
  clinical trial stage
• Ensure four molecules are partnered out by FY 09
  (including Oglemilast GRC 6211)
• Initiate acquisition of specialty front end in
  the US
• Enter 7-8 new markets in Europe and RoW markets
• Launch over 100 products and file for over 300
  products approvals across geographies

52
Glenmark Generics Ltd. (GGL)Generics Business
53
Agenda

• Glenmark
• Glenmark Pharmaceuticals Limited (GPL)
  Specialty Business
• Glenmark Generics Limited (GGL- wholly owned sub.
  of GPL) Generics Business
• Glenmark Consolidated Financials and Projections

54
Safe Harbour Statement

• This presentation has been prepared by Glenmark.
• The information, statements and analysis made in
  this presentation describing companys
  objectives, projections and estimates are forward
  looking statements and progressive within the
  meaning of applicable security Laws and
  Regulations.
• The analysis contained herein is based on
  numerous assumptions. Actual result may vary from
  those expressed or implied depending upon
  economic conditions, government policies and
  other incidental factors.
• No representation or warranty, either expressed
  or implied, is provided in relation to this
  presentation. This presentation should not be
  regarded by recipients as a substitute for the
  exercise of their own judgment.

55
Vision for Glenmark Generics Limited (GGL)
Global Integrated Generic API leader
Product Portfolio 170 generics on the US
market 70 generic dossiers for EU markets Over 50
of revenues from niches Market
Presence Presence in Japan, South Africa other
generic markets Front ends in Japan and key EU
markets along with NA Market Positioning Key
Generic Player Preferred supplier of APIs
Target 2015
Strategy
Expand Niche Product Portfolio
Increase Geographical Reach
Vertical Integration
56
Glenmark Generics Ltd. - Business Unit Structure
Glenmark Generics Ltd. (GGL)
Finished Dosage Formulations
API
API
Europe
North America
Argentina (Oncology)
57
North America
58
North America Performance FY 2008
Glenmark Generics Limited Generics Business
Revenues in mn
ending Mar07
ending Mar08
ending Mar09
ending Mar10

• Highlights
• Doubling of portfolio 28 products on the market
• Entry into dermatology with launch of five
  Clobetasol products
• First semi-exclusive product First 180 day
  shared exclusivity for Glenmark - Oxcarbazepine
• Garnered over 20-25 market share in most
  products

Projected
59
North America The US Market
Glenmark Generics Limited Generics Business

• 286 bn
• 65 generics by volume represent 20 of the
  market by value

The Market

• Political climate increasingly supportive of
  generics to lower healthcare costs
• Increasing competition in me-too generics
• Authorized generics and shared exclusivities
  reducing upsides from 180-day exclusivities

Market Characteristics

• Customers prefer vertically integrated companies
  with long term plan
• In the next 3-5 years, drugs worth 60-70 Bn
  are going off-patent

Opportunities
Values in Bn
60
North America Glenmarks rise as a generic
player
Glenmark Generics Limited Generics Business

• GGI, USA (Glenmark Generics Inc.) launched the
  first product in Jan 2005
• Registered net revenues of 140 mn in FY 2008

Background

• 28 products on the market
• gt 30 products filed with USFDA
• Presence in controlled substances, hormones,
  oncology, modified release and dermatology
• Portfolio of marketed products has doubled each
  year during the last three years

Product Portfolio

• Revenues crossed 100 mn in first three years
  of operations
• Received 180 day exclusivity for Oxcarbazepine
• Filed PIVs (FTF opportunities) for Zetia,
  Tarka, Strattera Crestor

ending Mar07
ending Mar08
ending Mar06
Highlights
61
Glenmark Generics Limited Generics Business
US Plan for ANDA Filings
62
US Product Portfolio Dermatology
Glenmark Generics Limited Generics Business

• Total Topical Derma Market is 4.3 bn of which
  over 50 of sales are generic
• Higher barriers to entry due to development
  costs
• Higher margins based on fewer competitors
• Key generic players include Fougera, Perrigo,
  Taro

The Market

• Partnership with Paul Capital for clinical
  development of 16 dermatology products
• Only Indian Company with India based dermatology
  portfolio 1 already launched 18 products
  anticipated (current market size 390 mn) to be
  launched within next 3 years

GGLs Portfolio
Fillings (Cumulative)
ending Mar08
ending Mar09
ending Mar10
62
63
Glenmark Generics Limited Generics Business
US Product Portfolio Controlled Substances (CS)

• Total CS Market is valued over 12 bn
• Key generic players include Mallinckrodt,
  Watson, Endo
• High barriers to entry
• DEA licensures required
• Limitations on importing controlled substances
  from foreign countries
• Higher margins on controlled substance products
  due to limited players

The Market

• Controlled substance portfolio (current market
  size 200 mn)
• 3 controlled substances already launched
• 7 additional products anticipated to be launched
  within next 3 years

GGLs Portfolio
Fillings (Cumulative)
63
ending Mar08
ending Mar09
ending Mar10
64
US Product Portfolio Modified Release
Glenmark Generics Limited Generics Business

• Total sales revenue for Modified Release oral
  solids is over 22 bn

• Higher barriers to entry
• Difficult to develop
• Unique technologies
• Higher margins on modified release products due
  to limited players.

The Market

• Several modified released products in pipeline
  and already filed 14 products anticipated
  (current market size 1.6 bn) to be launched
  within next 3 years

GGLs Portfolio
Fillings (Cumulative)
ending Mar08
ending Mar09
ending Mar10
64
65
US Product Portfolio Hormones
Glenmark Generics Limited Generics Business

• Total Solid oral dosage Hormones Market is
  approximately 5 bn
• Key generic players include Barr Watson

The Market

• Higher margins on Hormones Products
• Limited players
• Dedicated facility required
• Higher cost of bio-studies

• Only Indian Company with India based hormones
  portfolio 10 products anticipated (current
  market size 1 bn) to be launched within next 3
  years

GGLs portfolio
Fillings (Cumulative)
ending Mar08
ending Mar09
ending Mar10
65
66
US Product Portfolio Oncology
Glenmark Generics Limited Generics Business

• Total Oncology Market in the United States is
  over 10 bn
• Key generic players include Teva Sicor,
  Ben-Venue Barr

The Market

• Higher margins on Oncology Products
• Limited players
• Dedicated facility required

• Portfolio includes a mix of 14 solid oral dosage
  and 13 injectable products (Total market size gt
  7.5 bn)

GGLs portfolio
Fillings (Cumulative)
ending Mar08
ending Mar09
ending Mar10
66
67
Glenmark Generics Limited Generics Business
US Product Portfolio FTF ANDA Ongoing Litigation
Fillings (Cumulative)
ending Mar08
ending Mar09
ending Mar10
67
68
North America Strategy for future
Glenmark Generics Limited Generics Business

• Continue to focus on niche categories expand
  presence into other niche categories
• Set Glenmark Generics apart as a preferred
  supplier to the industry
• Manage product portfolio to include a judicious
  mix of PI, PII, PIII and PIV filings
• Strive for vertical integration for most of our
  products in all categories (including niche
  categories)

69
North America Plans for FY 2009
Glenmark Generics Limited Generics Business

• Register growth of 45
• Launch over 20 products and file over 35 products
• Including dermatology, controlled substances,
  hormones and other niche categories
• Leverage partnerships with other generic players
• Evaluate entry into 1 or 2 additional niche
  categories

70
Europe
71
The European Market
Glenmark Generics Limited Generics Business

• 182 bn
• Generic penetration is low as compared to the
  North America in many of the countries
• Market is broken down into several countries
  with different requirements

Market Size

• To bring down the cost of publicly funded
  healthcare is the main driver in promoting
  generics
• Europe is characterized with each country having
  different regulatory authorities and distinct
  pricing/reimbursement policies

Market Characteristics

• Key markets with high generic penetration UK,
  Germany, Netherlands
• Key markets with low generic penetration
  France, Italy, Spain, Belgium
• Large no of products set to go off-patent in the
  next 3-5 years

Opportunities
72
Europe generics business is gearing up for future
Glenmark Generics Limited Generics Business

• GGEL (Glenmark Generics Europe Ltd.) was
  established in 2004
• Majority of current revenues are as licensing
  income from dossier customers

Background

• Already filed for five MAAs which have been
  outlicensed to several Europen generic companies
• Portfolio of more than 30 EU CTD solid and
  semi-solids dossiers at various stages of
  development
• Several supply deals are in place with leading
  European generic players

Product Portfolio
Revenues in mn
ending Mar08
ending Mar09
ending Mar10
Projected
73
Europe Strategy for future growth
Glenmark Generics Limited Generics Business

• Establishing Glenmark 4-5 distribution front
  ends in Western European markets in the next 3-5
  years through organic/inorganic means in order to
  market own products directly
• Developing niche generic products, and
  partnering creating alliances with EU
  companies
• Building up the infrastructure to support growth
  objectives and create a significant presence in
  the EU markets
• Licensing and distribution partnerships with
  strong local / Pan-EU partners with a view to
  maximize the product portfolio and market
  opportunities
• Continue to support finished dosage pipeline
  with backward integration into APIs

74
Europe Plans for FY 2009
Glenmark Generics Limited Generics Business

• Acquire 1-2 generic distribution front ends in EU
• Launch 3 products into several countries
• File for at least 10 MAAs

Total MAA Filings (cumulative)
ending Mar08
ending Mar09
ending Mar10
75
Oncology Business
76
Oncology market
Glenmark Generics Limited Generics Business

• Total Market Size gt 30 bn
• Generic market worldwide gt 8 bn

Market Size

• Lesser competition because of entry barriers
• Difficult to develop molecules
• Specially designed/dedicated manufacturing
  facilities
• Better operating margins due to lower price
  erosion
• Longer product life cycle as older therapies
  continue to co-exist with newer ones

Market Characteristics

• 95 of classic chemotherapy products are not
  protected by patent which will ensure high
  profitability in regulated markets (less
  competition)
• Large no of products set to go off-patent in the
  next 3-5 years

Opportunities
77
Oncology generics business
Glenmark Generics Limited Generics Business

• Glenmark acquired the Argentinean marketing
  company Glenmark Generics S.A. (erstwhile
  Servycal S.A.) with a focused oncology portfolio
• Presence in oncology in over 23 countries
• Caters to 75 of cancer therapy products
• Robust product pipeline for the near future
• Presence in cytotoxics, anti-hormonals
  supportive therapies
• Plans to upgrade own dedicated manufacturing
  facility

Background
Product Portfolio
Revenues in mn
Projected
ending Mar08
ending Mar07
ending Mar09
ending Mar10
78
Oncology Business Strategy for future growth
Glenmark Generics Limited Generics Business

• Use Argentina as a hub to spread the oncology
  business
• Continue to file dossiers and expand presence in
  other Latin American and ROW markets
• Develop product portfolio for regulated markets
  and initiate oncology filings in regulated
  markets
• First filing in the US and EU by FY 09/FY10

Use Argentina as a hub for spreading the
oncology business
Increase coverage for cancer therapy products

• Expansion of product portfolio to cater to 95
  Cancer therapy products

79
Oncology Business Plans for FY 2009
Glenmark Generics Limited Generics Business

• Register growth of over 80
• Enter 3-4 new countries including regulated
  markets
• File over 90 products for approval across various
  countries

Total Dossier Fillings (Cumulative)
ending Mar08
ending Mar09
ending Mar10
80
Active Pharmaceutical Ingredients (API) Business
81
The Global API Market
Glenmark Generics Limited Generics Business

• gt 75 bn
• Growth gt10 (2005)

Market Size

• Increased consolidation in generic
  pharmaceutical industry
• More focus on higher value creating
  opportunities driven by intellectual property
• Stringent regulatory approval process in US/EU
  leads to high switching costs
• Increase in competition from Indian and Chinese
  API suppliers

Market Characteristics

• Large no of products set to go off-patent in the
  next 3-5 years
• Many of the other historical less-regulated
  markets are quickly shifting towards stricter
  regulations limiting competition and
  opportunities for established players like
  Glenmark

Opportunities
82
API Business
Glenmark Generics Limited Generics Business
Background

• API business spans across 80 countries including
  regulated markets like US and Europe
• gt 50 of the revenues is from exports

• Filed over 30 USDMFs till date
• Filed several Canadian DMFs, EDMFs and CEPs/CoSs

Product Portfolio
Sales in mn
Projected

• Highlights
• Registered growth of over 45
• Exports contribute over 50 of the revenues
• Initiated commercial supplies to various customers

83
API Business Drivers for future growth
Glenmark Generics Limited Generics Business

• Partner with generic companies to capture first
  and alternate source opportunities
• Establish close relationship with major generic
  players globally to capture high end opportunities

Continue to be a preferred 3rd party API
supplier
Expand product portfolio and market presence

• Continue to file DMFs across geographies
• Increase focus on entry into new markets
• Expand API capabilities to support dosage in
  niche areas (hormones, dermatology, controlled
  substances etc.)

• Focus on difficult to develop molecules and
  generating IP around molecules

Focus on IP
Investments to ramp up infrastructure

• Invest in building infrastructure in order to
  cater to increased demand and growth

84
API Business Plans for FY 2009
Glenmark Generics Limited Generics Business

• Register growth of over 40
• File over 15 USDMFs
• Ramp-up commercial supplies to regulated markets
  on upcoming approvals of ANDAs/Dossiers filed and
  pending at 3rd party customers
• Focus on development of over 15 APIs annually to
  provide cost and timing advantage to complement
  US and Europe generic filings
• Enter 5-6 new markets

US DMF Fillings
ending Mar08
ending Mar09
ending Mar10
85
Plants and Infrastructure
Glenmark Generics Limited Generics Business
Expansion Plans

• New Formulation plant at Jambusar SEZ
• New API Facility at Jambusar SEZ
• New RD Centre at Taloja (India) to be
  commissioned by FY 09
• Upgradation of Argentina plant for Onco products

86
Glenmark Generics Limited Generics Business
Financials and Projections Organic growth only
Revenues In mn
196
296
428
CAGR 48
Business Mix
(ending Mar 08)
(ending Mar 09)
(ending Mar 10)
CAGR 39
Profits In mn
87
125
64
In mn (Assumed exchange rate of 40.28
INR/USD for FY08 and 40 INR/USD for FY09 and
FY10)
87
Summary of key objectives for FY 09
Glenmark Generics Limited Generics Business

• Launch at least 5 products every quarter in the
  US generic market
• Launch at least 3 products in EU across several
  markets File at least 10 MAAs with focus on
  niche areas
• File over 30 ANDAs in the US generic market with
  focus on niche categories
• File at least 15 USDMFs
• Acquire 1-2 front ends in WE territory
• Commissioning of new RD facility at Taloja

88
Agenda

• Glenmark
• Glenmark Pharmaceuticals Limited (GPL)
  Specialty Business
• Glenmark Generics Limited (GGL- wholly owned sub.
  of GPL) Generics Business
• Glenmark Consolidated Financials and Projections

89
Consolidated Financials and Projections
Glenmark
(ending Mar 08)
(ending Mar 09)
(ending Mar 10)
In mn (Assumed exchange rate of 40.28
INR/USD for FY08 and 40 INR/USD for FY09 and
FY10)
90
Thank you