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Glenmark plans cancer drug unit in Argentina

14 Sep 2009 Evaluate

Mid-sized Pharma Company Glenmark Pharmaceuticals has decided to set up a facility to produce oncology drugs in Buenos Aires in Argentina to strengthen its presence in the global cancer drug market that is expected to grow by nearly 80% to $85 billion in four years. The company currently makes oncology drugs on a loan-licensee basis. The company provides the products and technology but the manufacturing is executed by a third party in Argentina. The proposed facility, which will be commissioned shortly, will be its only oncology drug making unit.

The Argentina plant will have an annual production capacity of around one million vials and will be the global hub for Glenmark for manufacturing two types of injectibles — lyophilised and liquid — used in oncology therapies. These products will be sold in around 20 countries. Glenmark entered into the oncology space through the acquisition of an Argentina company, Servycal, a few years ago.

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