MANUFACTURING MEDICINE: Glenmark Pharmaceuticals is making its mark in Union County.

• Author: Saylor, Teri
• Position: SPONSORED SECTION: LIFE SCIENCES HANDBOOK

Glenmark Pharmaceuticals' first U.S. manufacturing facility is conveniently located in Monroe, providing the company with a good economy, strong workforce and welcoming environment. The 50-year-old pharmaceutical company, headquartered in India, settled in Union County in September 2014, marking the first pharmaceutical manufacturing company to locate in the area in two decades.

Glenmark produces ingredients for generic drugs and has about 80 million prescriptions. This represents approximately 2% of the market share in the U.S., according to Robert Matsuk, president of Glenmark's global and North American active pharmaceutical ingredients business.

The 100,000-square-foot manufacturing plant, located near the Charlotte-Monroe Executive Airport, employs about 160 people.

"Union County and the city of Monroe are great to work with, and it was important for us to be close to Charlotte," Matsuk says. "We are pleased that the investment we've made in our facility will continue to create new, high-quality jobs in the Monroe community where we have a commitment to long-term growth and expansion."

The publicly traded company was founded in Mumbai, India, in 1977 and launched its North American subsidiary in New Jersey in 2003. Last fiscal year, Glenmark reported annual revenue of $1.4 billion.

It operates 17 manufacturing facilities and five research and development centers worldwide with 800 scientists. Glenmark employs more than 12,000 people worldwide. Its North American headquarters and distribution centers are in New Jersey.

According to published reports, Monroe, Union County and North Carolina offered a combined $1 million in incentives when the manufacturing plant opened, which included a $625,500 discount on the building, a county economic-development grant of 5340,000 and a state grant of $61,500 for community-college training for employees. Glenmark's initial investment in Monroe was $17 million.

"We collaborate with South Piedmont Community College for training," Matsuk says. "Often, we hire employees straight out of college, and while most of...