MercoPress. South Atlantic News Agency

Indian lab opens facility in Argentina to act as global hub for cancer drugs

India’s Minister of State for Commerce & Industry Mr Jyotiraditya Scindia

India’s Glenmark Pharmaceuticals on Thursday said it has opened its new facility in Argentina which would serve as a global hub for cancer treatment drugs.

The facility, in the outskirts of Buenos Aires, was jointly inaugurated by Minister of State for Commerce & Industry Mr Jyotiraditya Scindia and Argentina Minister of Industry Debora Giorgi, the company said in a statement.

The oncology manufacturing facility will serve as Glenmark’s global hub for manufacturing products used for treatment of cancer.

The new plant has an initial manufacturing capacity of one million units of liquids and around 1.3 million units of lyophilized concentrates and would be able to service the requirements of about 75% of cancer therapy products, it said.

Commenting on the development Glenmark Generics Limited President Mr Jalaj Sharma said: “Glenmark’s strategic intent is to emerge as a formidable player in the global oncology segment and this facility will serve as the global hub of oncology products for the entire organization“.

Glenmark had acquired Argentina’s oncology firm, Servycal S A in 2005 and helped it establish as an important player in oncology segment in Mercosur, South and Central America.

Besides operations in Argentina, Glenmark has operations in 12 other markets in the Latin America region and currently over 250 products are sold in this region.

Glenmark Pharmaceuticals is one of the leading pharmaceutical company headquartered in Mumbai. It manufactures and markets generic formulation products and active pharmaceutical ingredients (API), both in the domestic and international markets. It has four manufacturing facilities for formulations and additional three facilities for APIs. These manufacturing facilities are located in the states of Goa,k Gujarat, Himachal Pradesh and Maharashtra.

The Indian based company operates in 95 countries through its subsidiaries, Glenmark Pharmaceuticals USA, Glenmark Pharmaceuticals UK. Glenmark Pharmaceuticals SA, Switzerland.