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Our Vision “ To emerge as a leading, research-based , global, integrated pharmaceutical company ”

Our Vision “ To emerge as a leading, research-based , global, integrated pharmaceutical company ”. Our Values. Safe Harbour Statement. This presentation has been prepared by Glenmark.

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Our Vision “ To emerge as a leading, research-based , global, integrated pharmaceutical company ”

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  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 company’s 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. Glenmark Glenmark Pharmaceuticals Limited (GPL) – Specialty Business Glenmark Generics Limited (GGL- wholly owned sub. of GPL) – Generics Business Glenmark – Consolidated Financials and Projections Agenda

  4. Pre 2000 Glenmark Sales< $ 20 mn Domestic focus <5% of exports Glenmark Glenmark has made rapid strides towards achievement of vision • 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 Glenmark today Revenues : $ 499 mn India based MNC >60% 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. 1 API Plant, Gujarat, India Glenmark - Global Footprint Glenmark Generics Europe Limited, London, UK 1 Dosage Plant, HP, India Medicamenta, Czech Republic 1 Dosage Plant – Czech Republic Glenmark Generics Ltd., US 1 Dosage Plant, Maharashtra, India Glenmark India Glenmark Pharma Europe Limited, London, UK 3 Dosage Plants, Goa, India 1 Dosage Plant - Brazil R&D for NCEs, India Glenmark Generics SA, Argentina Bowter Bartlett South Arica R&D for Generics, India 1 Dosage Plant - Argentina R&D 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 consistentrobust growth across businesses 2 3 1 ending Mar’06 ending Mar’07 ending Mar’08 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 Pharmaceuticals Ltd (GPL) Glenmark Generics Ltd (GGL) 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. Glenmark Pharmaceuticals Limited: Specialty Business Global Therapeutic Focus Inflammation Pain, Respiratory (Asthma/COPD), Rheumatoid Arthritis Innovative R&D 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) R&D Finished Dosage Formulations NCE Biologics (Swiss) ROW (Rest of the World) Europe US (Inorganic entry)

  13. Research and Development (R&D)

  14. New Chemical Entity (NCE) Research Over 300 scientists Based in Mumbai, India New Biological Entity (NBE) Research Over 55 scientists Based in Switzerland Glenmark Pharmaceuticals Limited:Specialty Business Glenmark’s R&D Efforts – both small molecules and biologics 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 4039Target: (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 500Target: (a) Alpha2 βeta1 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 Europe (80*) US (inorganic route) India (2000*) Latin America (200*) Asia (200*) Africa (160*) CIS (300*) *Sales force strength

  27. Glenmark Pharmaceuticals Limited: Specialty Business Glenmark’s strategy for future growth in RoW markets • 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. Glenmark Pharmaceuticals Limited: Specialty Business India – Performance FY 2008 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 Revenues in $ mn ending Mar’07 ending Mar’08 ending Mar’09 ending Mar’10 * Projected

  30. Glenmark Pharmaceuticals Limited: Specialty Business India – Action Plan • Operates through 9 divisions • Sales force > 2000 medical representatives • Markets over 250 products in India Glenmark’s presence • Register growth of over 10 % • Launch > 20 new products • Maintain leadership in dermatology and consolidate position in other therapies Action Plan FY 2009

  31. RoW Markets Latin America (LatAm)BrazilVenezuela Mexico PeruChileBoliviaColumbiaEcuadorCaribbean countries

  32. Glenmark Pharmaceuticals Limited: Specialty Business LatAm – Performance FY 2008 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 Revenues in $ mn ending Mar’07 ending Mar’08 ending Mar’09 ending Mar’10 * Projected

  33. Glenmark Pharmaceuticals Limited: Specialty Business LatAm – Action Plan • LatAm Pharma Market : >$ 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 Glenmark’s 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 Mar’10) FY 2009 (ending Mar’09) * Projected

  34. RoW MarketsAustralasia (excluding India, CIS & Japan)MalaysiaPhilippinesIndonesiaChinaSouth KoreaMyanmarVietnamSri LankaCambodiaAustralia

  35. Glenmark Pharmaceuticals Limited: Specialty Business Australasia– Performance FY 2008 Highlights • Launched over 60 products • Filed for over 100 product approvals • Top-10 brands contribute over 65% of the business Revenues in $ mn ending Mar’08 ending Mar’09 ending Mar’10 * Projected

  36. Glenmark Pharmaceuticals Limited: Specialty Business Australasia – Action Plan • Australasia Pharma Market (excluding India, Japan, CIS) : >$ 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 Glenmark’s Presence • Register growth of over 20 % • File for 100 product approvals and launch 30 products Action Plan FY 2009 Revenue contribution * FY 2009 (ending Mar’09) FY 2010 (ending Mar’10) * Projected

  37. RoW MarketsAfricaSouth AfricaNigeriaKenya SudanEgyptTanzaniaYemenIvory Coast Zambia Mauritius Uganda Cameroon GhanaIncludes middle east countries

  38. Glenmark Pharmaceuticals Limited: Specialty Business Africa– Performance FY 2008 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 Revenues in $ mn ending Mar’08 ending Mar’09 ending Mar’10 * Projected

  39. Glenmark Pharmaceuticals Limited: Specialty Business Africa – Action Plan • Africa Pharma Market : >$ 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 Glenmark’s 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 Mar’10) FY 2009 (ending Mar’09) * Projected

  40. RoW MarketsCISRussia Ukraine UzbekistanKazakhstan

  41. Glenmark Pharmaceuticals Limited: Specialty Business CIS – Performance FY 2008 Highlights • Company launched 40 products • Filed for over 30 product approvals across CIS • Top-5 brands contribute over 90% of CIS business • Glenmark’s brand Ascoril is the no 1 brand in the cough expectorant market in Russia Revenues in $ mn ending Mar’08 ending Mar’09 ending Mar’10 * Projected

  42. Glenmark Pharmaceuticals Limited: Specialty Business CIS – Action Plan • CIS Pharma Market : >$ 15 bn • Russia, Ukraine, Uzbekistan & Kazakhstan are the key markets • Registered over 70 branded generic products • 300 medical representatives cover entire CIS Glenmark’s Presence • Register growth of over 70 % • File for 25 product approvals • Launch 25 products Action Plan FY 2009 Revenue contribution * FY 2010 (ending Mar’10) FY 2009 (ending Mar’09) * Projected

  43. Europe

  44. Glenmark Pharmaceuticals Limited: Specialty Business Europe – Performance FY 2008 • 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 Mar’09 ending Mar’10 ending Mar’08 * Projected

  45. Glenmark Pharmaceuticals Limited: Specialty Business Europe: Strategy for the future • 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 Glenmark’s proprietary medications that would reach the market in the next 3-5 years

  46. Glenmark Pharmaceuticals Limited: Specialty Business Europe Branded Generics Market – Key characteristics • 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 • Glenmark’s 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 Mar’09 ending Mar’10 * Projected

  48. Glenmark Pharmaceuticals Limited: Specialty Business US: plans to enter the specialty segment in the near future • 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* 303 377 504 CAGR ~29 % 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)

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