“Each year, we plan to launch between 5 and 10 new products in areas such as cardiology or the central nervous system, but also in new therapeutic areas: oncology and the respiratory system,” said Mariana Wencz, general manager of Glenmark Pharmaceuticals SRL.
“Glenmark Romania forecasts 20% higher turnover for 2011-2012 financial year to 40 million lei (EUR9.5 million) and pushes the term for reaching profitability from two years since arrival on the market to five years.”
The company entered the market three years ago, when it recruited Mariana Wencz, a former country manager of Zentiva Romania, for the general manager position. Its portfolio now includes 15 products.
“During this financial year, we mainly plan to manage a cash flow as close to the funding needs of the local operations as possible, as well as boost net turnover by at least 20% considering we’re on course for profitability since the business was a start-up just three years ago,” Wencz added.
She explained that as a rule it takes at least five years for such a business to become profitable and investments are carried out on the long term. (EUR1=RON4.2272)