Glenmark buys seven drug brands in Poland; New portfolio to boost earnings

"The acquisition of this product portfolio fits well with Glenmark's overall strategy for increasing revenue and accelerating growth in a key strategic market like Poland," Clark said.

The pharmaceutical market in Poland in 2007 was worth $7 billion in 2007, growing about 8 percent over the previous year, Glenmark said.

The financial details of the deal were not disclosed.

In recent times, Glenmark has been focusing on expanding its global presence. While last year, the firm acquired Czech Republic-based drugmaker Medicamenta, in June the firm received the nod from the US Food and Drug Administration (USFDA) for the sale of its generic version of anti-hypertension drug, Trandolapril in the US market.

ABOUT GLENMARK PHARMACEUTICALS LTD

Glenmark Pharmaceuticals Ltd. (Glenmark) is a research-driven, global, fully integrated pharmaceutical company headquartered at Mumbai, India. Its shares are listed on India's two large stock exchanges, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). It employs over 5000 people across its global operations across 80 countries. The company's speciality business generated $303 million in net sales in FY08.