Glenmark Pharmaceuticals

Glenmark Pharmaceuticals Ltd has announced that the Company has won the award for Emerging Company of the Year 2007 at The Economic Times Corporate Excellence Awards. The winners were selected by an eminent jury co-chaired by Mr. Azim Premji, Chairman of Wipro and Mr. NR Narayana Murthy, Chairman and Chief Mentor of Infosys Technologies with Mr. Praful Patel, Union Civil Aviation Minister, as a special guest. The other members of the jury comprised Mr. Deepak Parekh, Chairman of HDFC, Mr. Kumar Mangalam Birla, Chairman of the AV Birla Group, Mr. Harish Manwani, President (Asia-Pacific), Unilever, Mr. Rajiv Bajaj, Managing Director, Bajaj Auto, Mr. Sanjay Nayar, Citi Country Officer, Mr. Ravi Dhariwal, Publishing, Bennett Coleman & Company Ltd and Mr. Rahul Joshi, Executive Editor of The Economic Times.

Mr. Glenn Saldanha, CEO & MD, of the Company, said, "It is an honour for Glenmark to receive this award and is a very special occasion for me and my team. We will continue our efforts to build Glenmark into a global research based Company and retain our competitive edge in everything that we do."

The Emerging Company of the Year Award seeks to honour the capacity to take calculative risks, display explosive growth and discover a business model for others to emulate. As per The Economic Times, "Glenmark Pharmaceuticals emerged the winner in a tight race that was led, at the outset, by Pantaloon. The other Companies in the shortlist for Emerging Company of the Year were Aban Offshore, Axis Bank and Marico. Glenmark, to its credit, had registered a spectacular rise in profits. The fact that it has got a global leader like Merck to partner its new drug development and has lined up quite a few new molecules, tilted the scales decidedly in its favour. 'Blue chip' was used by more than one juror to describe Glenmark."