introductory report on glenmark (2)

7/28/2019 Introductory Report on Glenmark (2)

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A PROJECT REPORT ON

UNDERSTANDING OF SALES AND MARKETING OF

GLENMARK PRODUCTS

SUBMITTED

BY

MAHESH SHERKHANE

UNDER THE GUIDANCE OF

Dr. S. Riasudeen

IN PARTIAL FULFILLMENT OF THE

REQUIREMENTS FOR THE AWARD OF DEGREE OF

MASTERS IN BUSINESS ADMINISTRATION

THROUGH

DEPARTMENT OF MANAGEMENT

STUDIES,

PONDICHERRY UNIVERSITY

(2012-14)


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CERTIFICATE

This is to certify that the project entitled Understanding of Sales and

Marketing of Glenmark products carried out at Glenmark Pharmaceuticals Ltd.,

Mumbai, is a bonafied work carried out by Mr. Mahesh Arun Sherkhane, a stude nt

of Master of Business Administration (Marketing & Operation) of Department of

Management Studies, Pondicherry, towards the partial fulfilment of the Masters of

Business Administration degree awarded by Pondicherry University. He has worked

under our guidance and direction.

This project work has not been earlier submitted to any other institute or

University for award of any degree or diploma.

Dr. T. Nambirajan

Head ofDepartment

DMS, Pondicherry

University

Dr. S. Riasudeen

Project Guide,

DMS, PondicherryUniversity
http://www.pondiuni.edu.in/profile/dr-t-nambirajanhttp://www.pondiuni.edu.in/profile/dr-t-nambirajan


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CERTIFICATE OF THE PROJECT GUIDE

This is to certify that the project entitled Understanding of Sales and

Marketing of Glenmark Products which is being submitted herewith for the award of

the degree of Masters of Business Administration of Pondicherry University, is

the result of the original research work carried out at Glenmark Pharmaceuticals

Ltd., Pune, by Mr. Mahesh Arun Sherkhane, under my supervision and guidance; to

the best of my knowledge and belief, the work embodied in this project has not formed

earlier, the basis for award of any degree or similar title of this or any other University

or examining body.

Place:

Pondicherry

Date:

Dr. S. Riasudeen

Assistant Professor,

DMS Pondicherry


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DECLARATION

I undersigned, hereby declare the project entitled Understanding of Sales and

Marketing of Glenmark Products carried out at Glenmark Pharmaceuticals Ltd.,

Mumbai, and submitted by me to the Pondicherry University, in partial fulfilment of the

requirements for the award of Masters of Business Administration, under the guidance

ofDr. S. Riasudeen is my original work and conclusions drawn therein are based on the

material collected by myself.

Place:

Pondicherry

Date:

Mr. Mahesh A. Sherkhane


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ACKNOWLEDGEMENT

Gratitude is the hardest of emotion to express and often does not find

adequate words to convey that entire one feels.

It has been my good fortune to come across so many good hearted persons

during my project activity. Although it is as good as impossible to include the names

of each of them here, I gratefully thank them for their invaluable help and guidance in

adding a fund of technical as well as general knowledge.

I express my sincere thanks to my project guide Mr. Sameer Gaikwad

(HR Manager, Glenmark Pharmaceuticals, Mumbai) not only for guiding me throughmy project, but also for being my motivator and mentor throughout the project period

at Glenmark Pharmaceuticals, Mumbai. He helped me with all the resources and

information required for the project and provided me with the practical industrial

experience, which will be of immense help for me in my future.

I profusely thank my internal guide Ass. Prof. Dr. S. Riasudeen for her

precious and timely guidance and suggestions. I also thank HOD of the institute, Prof.

Dr. T. Nambirajanfor his support.

Last but not the least, I express my gratitude towards all those people who

directly or indirectly helped me to complete this project. Without support of all those

people, completion of this project would not have been possible.

Finally I thank God for gifting me this opportunity of working on such

unique project.

Mr. Mahesh A. Sherkhane
http://www.pondiuni.edu.in/profile/dr-t-nambirajanhttp://www.pondiuni.edu.in/profile/dr-t-nambirajanhttp://www.pondiuni.edu.in/profile/dr-t-nambirajan


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1.INTRODUCTION

Health is defined both as cause and effect of economic development. Therefore,

the pharmaceutical industry is specifically recognized in the UN Millennium

Development Goals as an actor that can contribute to economic development. In

addition, the pharmaceutical industry provides significant socio-economic benefits to the

society through creation of jobs, supply chains, and through community development.

The industry also plays an important role in technological innovation, which may reduce

costs of economic activity elsewhere in the economy.

Players in the pharmaceutical industry include: branded drug manufacturers,

generic drug manufacturers, firms developing bio- pharmaceutical products, non-

prescription drug manufacturers, firms undertaking contract research. In addition, there

are also enablers of the industry such as universities, hospitals and research centers that

play a role in R&D activities.

GLOBAL SCENARIO

Market Size

Global pharmaceutical market is highly dynamic and is characterised by greater

levels of R&D expenditure and extensive regulation of its products. Global

pharmaceutical sales are estimated to be US$ 643 billion in 2006, a growth of 7% over

the previous year. Sales have grown from US$ 334 billion in 1999 to US$ 643 billion in

2006, witnessing a CAGR of 10%. North America is the major pharmaceutical market

accounting for around 48% of global pharmaceutical sales, followed by Europe (30%),

Japan (9%). Leading therapy classes in world pharmaceutical market include lipid

regulators (with a market share of 5.8%), oncologic (5.7%), respiratory agents (4%),

acid pump inhibitors (4%), and anti-diabetics (3.5%).


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2.COMPANY PROFILEGlenmark Pharmaceuticals is a leading pharmaceutical company headquartered in

Mumbai, India. The company was incorporated in 1977 by Mr Gracias Saldanha. It

manufactures and markets generic formulation products and active pharmaceutical ingredients

(API), both in the domestic and international markets. In the formulation business, its business

spans segments such as Dermatology, Internal Medicine, Paediatrics, Gynaecology, ENT and

Diabetes. It has four manufacturing facilities for formulations and additional three facilities for

APIs. These manufacturing facilities are located in the states ofMaharashtra, Goa,Himachal

Pradesh and Gujarat in India. It operates in 95 countries through its subsidiaries, Glenmark

Pharmaceuticals USA, Glenmark Pharmaceuticals UK. Glenmark Pharmaceuticals SA.

The company also invests in New Chemical Entity (NCE) research and has in pipeline

two drug candidates in phase II trials and four drug candidates that are expected to commence

phase I trial in the near future. Glenmark has four manufacturing facilities for formulations and

additional three facilities for APIs. These manufacturing facilities are located in the states of

Goa, Himachal Pradesh, Gujarat and Maharashtra in India. The company also owns a

manufacturing facility in Sao Polo, Brazil. The company registered sales of nearly EUR 141

million in the financial year ending 31 March 2006, which was 30 per cent higher than the

previous year. The net profit of the company in FY 2006 stood at EUR 16.38 million.

Glenmarks operations are spread across more than 80 markets for formulations business. It

supplies APIs to over 45 markets.3 the company has presence in the highly regulated markets

of the USA and Europe. It has incorporated subsidiaries in the UK, Switzerland, the USA and

Brazil. International business contributed nearly42 per cent to the companys total revenues in

FY 2006.

GLENMARK MARKET OVERVIEW

Glenmarks formulations business is currently organized around four regions India,

Latin America, Central Eastern Europe and Semi Regulated Markets of Africa or Asia. The

formulations business focuses on therapeutic areas viz. dermatology, anti-infective,

respiratory, cardiac, diabetes, gynaecology, CNS, and oncology. India is the largest market in

terms of revenue for the organization. The formulations business has five manufacturing

facilities; three in India and two overseas. These facilities are approved by several regulatory
https://www.facebook.com/pages/Mumbai/106082389422350https://www.facebook.com/pages/India/109524955741121https://www.facebook.com/pages/Dermatology/107731602583619https://www.facebook.com/pages/Internal/106479289387776https://www.facebook.com/pages/Medicine/103999666303070https://www.facebook.com/pages/Paediatrics/106286849410021https://www.facebook.com/pages/Gynaecology/106079722756316https://www.facebook.com/pages/Otolaryngology/109440979075234https://www.facebook.com/pages/Diabetes/114772608534864https://www.facebook.com/pages/Maharashtra/112208985461599https://www.facebook.com/pages/Goa/107816582574748https://www.facebook.com/pages/Himachal-Pradesh/112397338775354https://www.facebook.com/pages/Himachal-Pradesh/112397338775354https://www.facebook.com/pages/Gujarat/108349399190148https://www.facebook.com/pages/India/109524955741121https://www.facebook.com/pages/India/109524955741121https://www.facebook.com/pages/Gujarat/108349399190148https://www.facebook.com/pages/Himachal-Pradesh/112397338775354https://www.facebook.com/pages/Himachal-Pradesh/112397338775354https://www.facebook.com/pages/Goa/107816582574748https://www.facebook.com/pages/Maharashtra/112208985461599https://www.facebook.com/pages/Diabetes/114772608534864https://www.facebook.com/pages/Otolaryngology/109440979075234https://www.facebook.com/pages/Gynaecology/106079722756316https://www.facebook.com/pages/Paediatrics/106286849410021https://www.facebook.com/pages/Medicine/103999666303070https://www.facebook.com/pages/Internal/106479289387776https://www.facebook.com/pages/Dermatology/107731602583619https://www.facebook.com/pages/India/109524955741121https://www.facebook.com/pages/Mumbai/106082389422350


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bodies. The facility at Baddi, Himachal Pradesh, India is also approved by MHRA and

USFDA for semi-solids.

The overseas facilities are situated in Brazil and the Czech Republic. While the

manufacturing facility in Brazil services requirements of the Latin American region, the Czech

facility services requirements of the Central Eastern Europe region. Glenmark has also

invested in a dedicated R&D facility for formulations development. This R&D centre, situated

near Nasik, India is engaged in developing specialty/ branded formulations for global markets.

1.1GLENMARK PHARMACEUTICALS IN THE EUROPEAN UNION (EU)

Glenmark made a foray into the EU in 2004. Europe, contributing nearly 30 per cent

in value terms to the global pharmaceutical market is the key region for the companys

international ambitions. The company eyes the generics market which is set to increase in the

coming years


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1.2 GLENMARK PHARMACEUTICALS IN THE UK

Glenmark operates in the UK through its subsidiary, Glenmark Pharmaceuticals (UK)

Ltd. that was established in 2004.With an easy access to markets in London, the rest of the

UK and the EU, this subsidiary caters to the European API and formulations market.

Glenmark is developing generics products for the European market. Glenmarks UK

subsidiary is also exploring opportunities for inorganic growth in various European countries.

It recently entered into an agreement with Generics UK, a unit of Merck KgaA, Germany, for

joint-development, filing and marketing of eight generic dermatological products in Europe.

1.3 GLENMARK PHARMACEUTICALS IN THE AFRICA & MIDDLE EAST

The company has operations in 29 markets in the region. The region has four

subsidiaries in Nigeria, South Africa, UAE and Egypt. It also has a representative office in

Kenya. All these five countries are focus markets for Glenmark in the Africa and Middle East

Region. Over 350 products are sold in this region.


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1.4 GLENMARK PHARMACEUTICALS IN THE ASIA

The company has presence in 12 markets in the region with 3 subsidiaries in

Philippines, Malaysia and Thailand and 2 branch Offices in Vietnam and Cambodia. Malaysia,

Vietnam, Philippines are the key focus market for Glenmark. Presently Malaysia is the largest

subsidiary followed by Philippines for the region. More than 30 brands are sold in each of the

focus markets and over 400 products are registered in the region.

1.5GLENMARK PHARMACEUTICALS IN THE RUSSIA

Russia is the largest subsidiary in the region and the other key markets are Ukraine,

Uzbekistan and Kazakhstan. In April 2006, Glenmark established its wholly-owned Russian

subsidiary, Glenmark Impex and started full commercial operations, importing products, sales,

distribution and marketing. The company has a class A warehouse,

on the outskirts of Moscow and sells to all major national distributors in Russia. Over 35products are being sold in the region.


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1.6 GLENMARK RMACEUTICALS IN THE INDIA

The India Formulations business is segregated into various divisions with focus on

specific franchises. This move has benefited the business as it has increased the reach and

relationship-building activities with associated practitioners/specialist. The various divisions

and their product lists are mentioned below.


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Glenmark is the main division of Glenmark

Pharmaceuticals Ltd. focused on

Dermatological and includes flagship brands

like Candid Candid B

Formed in April 2005, this division has been

constituted as a multi-specialty division. Its

focus areas encompass internal medicine

paediatrics, orthopaedics and surgeons.


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Gracewell strives to bring innovative

therapeutic options in the field of

Dermatology to attain leadership in key

therapeutic areas like dry skin disorders, acne

management and alopecia.

Integrace has redefined milestones in the

Orthopaedic and the Intensive care arena.

This division focuses on diabetes and related

complications. Healtheon has led the industry

with many first time launches in India

This division caters primarily to the

cardiology therapy group.

Launched in July 2006 this division has

been constituted to provide quality products

and services to individuals suffering from

cancer.

Launched in April 2008 this division has

been constituted with a view to strengthenpresence in the critical care segment by

providing a one stop shop for all critical care

anti-biotic.

G&G stands for Glenmark & Gynaecology, a

new division committed to nurturing woman

health through dedicated customer & patient

centric services. The endeavour of the

division is to partner the fraternity in creating

awareness on women health and provide

quality & novel product for better therapy


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management.

This division primarily focuses on

Government Tender Contracts.

This division is formed to address the needs

& requirements of family physicians, ENT

and includes gold standards formulations

with focus on quality and affordability of

products.

Gracewell Speciallty is dedicated for

specialized dermatological therapies. Its

mission is to carve a niche in high end

cosmetologicals & Dermatological.


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KEY THERAUPTIC SEGMENTS


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MARKET STRATEGIC FOCUS


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VISION AND VALUES OF GLENMARK

Our Vision To emerge as a leading integrated researchbased global pharmaceutical

company.

Our Values Achievement

We value achievement of objectives and consistently strive towards our

Vision, with perseverance.

Respect

We respect all our stakeholders.

Knowledge

We value knowledge such that it empowers our people to find innovative

solutions to manage change


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OBJECTIVES OF PROJECT WORK

To analyze the market value of the product. To analyze the company image in the market. To analyze the marketing field in the pharmaceutical sector. To check the awareness about Glenmark products at chemists level To find out the factors affecting the stocking and selling decision of chemists To convince the chemists to stock and sell the product To carry out competitor analysis for Glenmark products in Mumbai region To find out the effectiveness of marketing communication of Glenmark To find out the basis of acceptance of the product by the customer For the evaluation of the product. To provide Healthcare representatives with the market and medical (anatomy,

physiology, pathology and pharmacology) knowledge required under the proposed

Marketing Code of Practice for Marketing of Healthcare Products.


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RESEARCH METHODOLOGY

Fields that were covered in this study:

Products popularity in the market. Products efficacy compared to othercompanys products. Products results. Products limitations. Products advantages. Products side effects. Magnitude of these side effects. Products competitors in the market. Patient and society demands for the product. Factors that affect the prescribing behavior of the physician.

To get information about above mentioned points one structured

questionnaire was prepared which consist of open ended as well as close ended

questions with regard the information that was sought for the carrying the

project. The questionnaire was prepared for one type of target population i.e.chemists.

RESEARCH DESIGN

Since source of secondary data directly relevant were scares. It was

decided that the analysis had to be primary data analysis, collected directly from

chemists. The survey method was chosen to be shop to shop Personal Interview

survey.


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The research could be classified as a descriptive research (conclusive)

due to availability of knowledge of specific problems. It was aimed to get an idea

about the awareness and availability of our product.


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CONCLUSION

In all aspect, it is really knowledgeable project for the understanding of

marketing and sales of Glenmark products. After working over the project I came to

know that Glenmark is market leader and in strong position in many molecules in

Mumbai along with this there should be need to pay their attention over some of the

molecules to grab the market position.

There are many global competitors in the market and they have good share in

many molecules. Glenmark comes under the categories of top Indian pharmaceutical

companies along with companies like Ranbaxy, Mankind, Cipla, FDC, Lupin etc. Along

with these top competitors from market company also facing tough competition from

other companies. There were some limitations on my work area in spite of these I

completed this project with the right guidance of my mentor and support of retailers in

Mumbai.


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GLENMARK PHARMACEUTICALS LTD.


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LIMITATIONS OF THE STUDY

Non co-operative behaviour of the chemists. The chemists shop, those were around the hospitals and medical institutions

avoid telling the prescribers name.

All the things are based on the response given by the respondent so any falseinformation from respondent could make the actual result wrong.

Some chemists didnt have enough time to give the response. Lack of information about chemists and doctors in survey area.


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introductory report on glenmark (2)

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