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Glenmark sets up subsidiary in U.S.

MUMBAI MAY 8. Glenmark Pharmaceuticals today announced that it had set up a wholly-owned subsidiary in the U.S. called Glenmark Pharmaceuticals USA Inc., to make further inroads into the U.S. market for the company's formulations and active pharmaceuticals ingredients.

The subsidiary, based at Princeton in New Jersey, will be headed by Jeffrey Weiss as CEO. Disclosing this, Glenmark Managing Director, Glenn Saldanha, told reporters here that the setting up of the U.S. subsidiary was part of the company's strategic initiative to augment its presence in the U.S. market, particularly in helping them file Abbreviated New Drug Applications, and to market finished formulations. "We will be filing two to three ANDAs in the next 18-24 months," he said.

— UNI

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