Indian Economy News

Glenmark Pharma to set up plant in US

Mumbai: Glenmark Pharmaceuticals plans to set up a plant in North Carolina, US—it’s first manufacturing facility in North America.

The company will first begin work on an oral solid unit and then build manufacturing units for injectables and topicals. Financial details were not disclosed.

“Our plan to set up a new manufacturing facility in the US underlines the fast-paced growth the company has witnessed in a short span of eight years in the US, and our long-term commitment to the country,” said Glenn Saldanha, Chairman. “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.”

The company expects to start manufacturing activity by the end of the current fiscal. This facility is dedicated only for the US market and is adding to its list of 14 plants in four countries—India, Brazil, Argentina and the Czech Republic.

Glenmark, which operates in North America through its subsidiary Glenmark Generics Inc, has a fast-growing generics business with a portfolio of over 90 products authorised for distribution in the US.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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