Founder of Glenmark Pharma passes away

Gracias Saldanha

Gracias Saldanha, who started Glenmark Pharmaceuticals in 1977, recently passed away in Mumbai. A veteran of the pharmaceutical industry, he remained a guiding force to the management for the next three decades, retiring as Chairman and Non-Executive Director in 2011.

Armed with a Masters Degree in Science from the Bombay University and a Diploma in Management Studies from the Jamnalal Bajaj Institute of Management Studies, Mumbai Gracias was associated with a number of multinational pharma companies from 1964 to 1977 before setting up Glenmark Pharmaceuticals.

Under his guidance the company tapped the capital market in 2000 two years after his son Glenn, presently Chairman and Managing Director, joined the company. In the last fiscal, the company recorded sales growth of 36 per cent, crossing Rs 40 billion in revenues.

EP News Bureau