Glenmark eyes leap in oncology with start of Argentine unit

Pharmaceutical firm Glenmark is looking towards a significant leap in the global cancer drugs segment with the operationalisation of its $20 million new manufacturing unit in Argentina.

The company's new facility will manufacture products which will be used to treating different types of cancer. It will be inaugurated on May 3.

"Glenmark's strategic intent is to emerge as a formidable player in the global oncology segment and this facility will serve as a global hub for the organisation," Glenmark Generics Ltd CEO Terrance Coughlin told PTI.

At present, Glenmark's strength is in the dermatology and respiratory therapeutic areas. It has also identified cancer treatment drugs as one of the thrust areas for the future growth.

The $20 million facility situated on the outskirts of Argentine capital Buenos Aires spread over 10,000 sq meters can produce one million units of liquids and around 1.3 million units of lyophilized concentrates.

The company's oncology business is based in Buenos Aires and it serves as the hub for generic research, manufacture and distribution of oncology products for the entire organisation.

Glenmark had acquired Argentina's oncology firm, Servycal S A in 2005 and helped it establish as an important player in oncology segment in the Latin and Central America region.

At present, the company's presence in oncology segment is in cytotoxics, anti-hormonals and supportive therapies in over 20 countries and caters to 75% of the cancer therapy products.

The company also has plans to initiate oncology filings in regulated markets, Glenmark said.