Glenmark plans to set up new facility in US

Glenmark Pharmaceuticals plans to set up a new manufacturing facility in the United States at Monroe Corporate Center, North Carolina, USA.

The facility will be spread over 100,000 sq ft in a 15 acre plot. The company would first begin work on an oral solid unit and thereafter set up manufacturing units for injectables and topicals. Financial details were not disclosed.

"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 there, to serve our growing business in the country,'' said Glenn Saldanha, Chairman, Glenmark Pharmaceuticals.

"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,'' 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 namely 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 US.

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