Glenmark Pharmaceuticals to set up a new manufacturing facility in the US
The facility will be situated in Monroe, North Carolina, USA
The facility will manufacture oral solids, injectables and topicals over a five year period
Mumbai, India; July 17, 2014: 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. feet (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 8 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 5 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 4 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 authorized 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.