Glenmark Pharmaceuticals S.A.

In June 2004, Glenmark incorporated a wholly owned subsidiary Glenmark Pharmaceuticals S.A. (GSA), in Switzerland. The company is based in the La Chaux de-Fonds, in the Canton of Neuchâtel strategically located between Zurich and Geneva.

The Company established a Biologics Research Centre in Switzerland and has appointed Dr. Michael Buschle for leading the Group's initiative in the area of biopharmaceutical research, manufacturing and marketing.

Switzerland houses some of the worlds most well known pharmaceutical companies and has a large workforce of highly skilled professionals. By establishing its R&D facility in Switzerland, Glenmark is able to make use of these resources that enable it to undertake world-class research in biopharmaceuticals. The plan envisages a team of around 40 - 50 scientists, including PhD's with expertise in molecular biology, cell biology, immunology, antibody engineering, process development and global pharmaceutical product development.

Another key role for GSA is in the ownership and management of intellectual property (IP) assets for Glenmark and its affiliates along with business development efforts and commercialization/ licensing of IP. GSA also acts as a holding company and manages the portfolio of group investments in subsidiaries, acquisitions etc for Glenmark.