Glenmark plans to set up new manufacturing facility at Monroe Corporate Center, USA
Published on July 17, 2014 at 8:06 AM
Glenmark Pharmaceuticals Ltd, a research-driven, global, integrated pharmaceutical company, plans to set up a new manufacturing facility in the US. The company plans to set up this manufacturing facility at Monroe Corporate Center, North Carolina, USA. The facility will be spread over 100,000 sq. ft (around 15-acre) plot and the company will first begin work on an oral solid unit and thereafter set up manufacturing units for injectables and topicals.
"Our plan to set up a new state-of-the-art manufacturing facility in the US underlines the fast-paced growth the company has witnessed in a short span of eight years in the US market and our long-term commitment to the country. The US is a key strategic market for Glenmark and it is important for us to have a manufacturing base here to serve our growing business in the country," said Glenn Saldanha, Chairman & MD, Glenmark Pharmaceuticals Ltd. "Over the next five years, we will make significant investments in this proposed facility and set up three units which will produce oral solids, injectables and topicals. With the setting up of a new facility in the US, we would further enhance our manufacturing footprint making it truly global in every sense of the term," he added.
The company expects to start manufacturing activity by the end of the current financial year FY 2014-15. This facility is dedicated only for the US market and is Glenmark's first manufacturing facility in North America, adding to its list of 14 plants in four countries - India, Brazil, Argentina and Czech Republic. Glenmark, which operates in North America through its subsidiary Glenmark Generics Inc., has a fast growing generics business with a robust portfolio of over 90 products authorised for distribution in the U.S. in niche segments like dermatology, hormones, controlled substances, oncology, and modified release products. The company has nearly 70 ANDAs pending for approval with the USFDA and currently ranks among the top 25 generics companies in the US.
Glenmark Pharmaceuticals Ltd