Glenmark to separate generic business

Glenmark Pharmaceuticals is planned for a major restructuring exercise. The company is hiving off its generics business to a new company Glenmark Generics. As the generic business grows at high speed, he says it is best to hive it off into a new company Glenmark Generics, which will then get listed in the markets next year. At present, over 35 per cent of Glenmark''s revenues come from generics and API business. The new company, Glenmark Generics will handle the development, manufacture, marketing of generic formulation and API businesses. It will concentrate on drugs going off patent but the best mantra for the company''s growth is to go the acquisition way.