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Glenmark Pharma Debuts in US with NC Plant

  One of Glenmark's pharmaceutical manufacturing lines.
 --Photos courtesy of Glenmark Pharmaceuticals Ltd.

An India-based global pharmaceutical company has chosen North Carolina for its first North American manufacturing facility.

Glenmark Pharmaceuticals Ltd. has purchased a 15-acre site in the Union County city of Monroe, near Charlotte, for the facility. The company plans to spend some $18 million to set up its drug manufacturing plant in an existing 102,000-square-foot building in the Monroe Corporate Center near the Charlotte-Monroe Executive Airport.

Glenmark, headquartered in Mumbai, said it expects to employ 41 people by the time it begins production of oral solid dermatology, hormone replacement and cancer drugs at the Monroe plant in 2015. During the subsequent five years the company plans to add injectable and topical formulations to its production line.

"Our plan to set up a new state-of-the-art manufacturing facility in the U.S. underlines the fast-paced growth the company has witnessed in a short span of eight years in the U.S. market, and our long-term commitment to the country," said Glenn Saldanha, chairman and managing director.

  Glenn Saldanha, Glenmark chairman and  
 managing director

“The U.S. 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.”

Glenmark, best known in the U.S. for its generic drugs, has 14 plants in four countries -- India, Brazil, Argentina and the Czech Republic.

The publicly traded company was founded by Glenn Saldanha’s father Gracias, who died in 2012.

Glenn has a bachelor’s degree in pharmacy from Mumbai University and an MBA from New York University’s Leonard Stern School of Business. Before joining Glenmark, Saldanha worked in the United States for Eli Lilly and PricewaterhouseCoopers.

In 2013, Forbes listed the now 44-year-old Saldanha as India’s 57th richest person, with a net worth of $1.2 billion.

Comments

I am looking for an address in the US for Glenmark Pharmaceutical. Can you verify the address of 4147 Goldmine Road, Monroe, NC 28110 is correct? I appreciate your assistance with this request.

I have Barrett's Esophagus Disease, and my gastroenterologist says I'll be taking Nizatidine for the rest of my life. There are other drugs manufactured for the same condition, however, I've found that Nizatidine works very well with me, and I don't want to risk switching. Nizatidine was originally manufactured as Axid by SmithKline Beechham, and later discontinued. Glenmark now manufactures generic Nizatidine and is the current provider for my local Walmart Store where I purchase this drug. I currently have no insurance and the price I pay for a one month supply ( 60 150mg capsules ) is about $ 169.00. I find it unusual that a generic drug that has been around as long as Nizatidine costs this much. It is extremely difficult for me financially to afford this necessary drug. Is Glenmark able to offer a substantial discount to make Nizatidine more affordable to me? [ gs_milkman@yahoo.com ]

Hi Glen. You might be interested in this: http://us-glenmarkpharma.com/consumers/prescription-assistance/

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