Updated on 16 July 2014
This will be the company's first manufacturing facility in North America
Singapore: Riddled with regulatory hurdles, many Indian pharmaceutical companies are increasingly setting up plants in the US to serve the world's most lucrative market.
India's Glenmark Pharma was the latest one to join the bandwagon and has announced that it is planning to set up a greenfield facility to serve the US market, which has sales of generic drugs totaling $65 billion.
Before Glenmark, Indian pharma majors like Ranbaxy, Sun Pharma and Wockhardt have all established facilities in the US, in the midst of growing regulatory action by the USFDA over quality issues at their domestic units.
Meanwhile, news reports claimed that sources said that Glenmark Pharma will be building a state-of-the-art manufacturing facility estimated to cost $100 million, over a period of four to five years. The report added that it will manufacture oral solids to start with, and injectables and topicals later.
This will be the company's first manufacturing facility in North America, adding to its list of 14 plants in four countries - Brazil, Argentina, Czech Republic, and India.