Glenmark to establish manufacturing facility in US
Initially for manufacturing oral solid dose and later injectables and topicals
Indian pharmaceutical company Glenmark Pharmaceuticals plans to set up a new manufacturing facility at Monroe Corporate Centre in North Carolina, US.
The 100,000ft2 facility will first begin work on an oral solid unit and over the next five years the company says it will also set up manufacturing units for injectable and topical products.
The Mumbai-headquartered company expects to start manufacturing by the end of the current financial year. This facility is dedicated only for the US market and is Glenmark’s first in North America, adding to its list of 14 plants in India, Brazil, Argentina and Czech Republic.
Glenmark, which operates in North America through its subsidiary Glenmark Generics, has a fast-growing generics business with a portfolio of over 90 products authorised for distribution in the US in niche segments such as dermatology, hormones, controlled substances, oncology and modified release products.
The company has nearly 70 ANDAs pending approval with the US FDA and currently ranks among the top 25 generics companies in the US.
'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,' said Glenn Saldanha, Chairman and Managing Director, Glenmark Pharmaceuticals.
'The US is a key strategic market for Glenmark and it is important for us to have a manufacturing base there to serve our growing business in the country.'