Glenmark to set up new manufacturing facility in US

Facility dedicated only for US market and Glenmark's first manufacturing facility in North America

Glenmark Pharmaceuticals Ltd plans to set up a new 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.

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.

"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.

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