Post on Medial

Meet the man from Goa who built a 40,000 CR company. 1.Born in the Saligao village of Goa, Gracias Saldanha had made everyone proud. He became one of the first graduates of Saligao to earn a master's degree in science from Bombay University. After coming back to the village, he saw the shabby health conditions and wanted to do something about it. 🤔 2. After working with multiple pharmaceutical companies for 12 years, he wanted to build something himself. With Rs 1 lakh and three employees, he started a company after his two sons, Glenn and Mark. On 18th November 1977, Glenmark Pharmaceuticals was born. 🚀 3. The idea was simple ⏩ Produce generic medications and active pharmaceutical ingredients (API). Gracias started by focusing on the new chemical entity (NCE) and new biological entity (NBE), which could become disease medicines after trials. But he knew this would take a long time and had to do something else. 👇 4. After two years, he realised it was time to launch his products. 1979 ➡️Glenmark entered the dermatological market by launching Candid cream for fungal infections. With its success, Gracias also launched Ascoril in 1985 to relieve cough. And magic happened. 🪄 5. Candid and Ascoril had not only taken the Indian market by storm but were also in demand in other countries, including Mauritius, Kenya, and Afghanistan. As Glenmark went global in 1999, he opened an R&D centre in Sinnar, Nashik, to focus on more drug development. And then 2000 came. 👇 6. Glenmark started the centurion with a bang by listing on the stock market at a valuation of 1760 CR. It kept its focus on research and opened two NCE/NBE centres and API facilities. As it signed four mega out-licensing deals, it became 5th largest Indian pharmaceutical company in 2008, worth 8160 CR. 💰 7. When other companies struck in patent filings, Glenmark was growing on steroids. It had grown from a revenue of 260 CR in 2003 to 6010.37 CR by 2014. It had become a billion-dollar company by sales, and 66% of its revenue came from the USA, Latin America, Europe and 80+ countries. Glenmark entered the list of the top 80 pharma companies in the World. 🌍 8. By 2018, Glenmark had grown from a Candid cream to 6000 products in Respiratory, Dermatology and Oncology therapeutic areas. With a revenue of 9185.34 CR and operations in 80 countries, it became the fourth-largest pharmaceutical company and the 2nd fastest-growing company in India. 🇮🇳 9. Today, Glenmark clocks a revenue of 12,653 CR with ten manufacturing sites and four research centres globally. It is worth 40,000 CR today. 💪 ➡️ In 2011, Gracias Saldanha was the 69th richest Indian and the richest Goan worth 3700 CR, but his real wealth is his son Glenn Saldanha, who has carried his legacy beautifully. 🙏