Glenmark Pharma transfers API biz to Glenmark Life Sciences

Its API biz spans more than 80 countries, including regulated markets of the US, Canada, Europe and Japan. Glenmark, which entered into the API business in 2003, has manufacturing facilities in Gujarat and Maharashtra.

New Delhi: Glenmark Pharma announced in a statement to the BSE that the Company’s API (Active Pharmaceutical Ingredients) business has been transferred to Glenmark Life Sciences Limited, a wholly owned subsidiary of the company, on December 31, 2018.

The company's shareholders had entered into an agreement for the transfer of the company's API business to Glenmark Life Sciences in October.

Glenmark’s API division manufactures and supplies more than 190 APIs to customers worldwide.

Its API business spans more than 80 countries, including regulated markets of the US, Canada, Europe and Japan. Glenmark, which entered into the API business in 2003, has manufacturing facilities in Gujarat and Maharashtra.

Glenmark Pharmaceuticals is a pharmaceutical company headquartered in Mumbai, India that was founded in 1977 by Gracias Saldanha as a generic drug and active pharmaceutical ingredient manufacturer.