Glenmark uses 4 products to target a €50 mln market

“One of the products has a potential market worth €20 million, while all four products target a potential €50 million market,” added the company’s Country Manager.

As a comparison, current best-selling drugs in Romania are analgesics Algocalmin and Nurofen, with €14 mln and €20 mln in annual sales, respectively. The total pharmaceutical market is worth some €1.8 billion.

The four products Glenmark will launch next year are prescription drugs for cardiac and neurological conditions, so they will be promoted mainly to professionals, rather than to the public, Mariana Wencz said.

She added that the company’s strategy aims to launch generic products in Romania in the coming five years and, in the longer-term, to sell original drugs on the local market.

Glenmark’s portfolio includes some 200 products, of which drugs with highest sales potential are being registered in Europe, including Romania. The company is locally targeting niche therapy areas likely to be subject to major growth rates in the coming years. In fields such as cancer, dermatology, and gynecology, competition is not as fierce as in other wider segments, such as cardiology, and prices are relatively high.

“We do not plan to be a supermarket, like other generic drug producers; we bring added value with the brands we will launch,” Mariana Wencz said.