Glenmark to build first US manufacturing plant
After the oral solid unit is set up, the 100,000-square foot facility will expand to 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,” said Glenn Saldanha, chairman of Glenmark. “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.”
The company plans to make investments at the site over the next five years to set up all three manufacturing units.
The company expects to start manufacturing activity by the end of the current fiscal year and the facility will be dedicated only for the US market. This is Glenmark’s first manufacturing facility in North America, and adds to its 14 plants in India, Brazil, Argentina and Czech Republic.
Glenmark currently operates in North America through its subsidiary Glenmark Generics, which has 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 US FDA.
The company has a significant presence in branded generics markets across emerging economies including India.
The company also has an API business that sells its products in over 80 countries, including the US, various countries in the EU, South America and India.
