Glenmark Pharmaceuticals’ arm — Glenmark Life Sciences is on track to more than double its capacity over the next four years at a cumulative investment of over Rs 600 crore. The capacity expansion is on the back of company’s plan to enter more regulated growth markets like Brazil, Mexico, Russia, Korea, Taiwan and Saudi Arabia.
The move is also part of company’s bid to cash in on from many global formulation makers (tablets, capsules, injectables, syrups etc.) bid to de-risk their procurement strategies by creating a new raw material source other than China (China plus one), which has led to a major spike in demand for active pharmaceutical ingredients (APIs) from the country.
Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.
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