Glenmark Pharmaceuticals Limited ( (IN:GLENMARK) ) has shared an announcement.
Glenmark Pharmaceuticals Limited announced that its wholly owned subsidiary, IGI Inc., will cease all CMC development and clinical supplies manufacturing at its facility in La Chaux-de-Fonds, Switzerland, by July 31, 2025. This strategic move is part of IGI’s plan to advance its pipeline by shifting manufacturing to established Contract Development and Manufacturing Organizations (CDMOs), ensuring higher quantities of finished products for future clinical programs. The closure is not expected to adversely affect the company’s consolidated financials.
More about Glenmark Pharmaceuticals Limited
Glenmark Pharmaceuticals Limited is a prominent player in the pharmaceutical industry, primarily engaged in the development, manufacturing, and marketing of branded and generic formulations. The company focuses on therapeutic areas such as dermatology, respiratory, and oncology, and operates globally with a significant presence in emerging markets.
YTD Price Performance: -5.78%
Average Trading Volume: 23,466
Current Market Cap: 429.1B INR
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