Parenteral Drugs to invest Rs 50 cr for upgrading Indore facility
Thursday, December 27, 2007 08:00 IST Usha Sharma, Mumbai
The Mumbai based Parenteral Drugs India Ltd is expanding its existing manufacturing facility at Indore. With an investment of Rs 50 crore, it is enhancing its manufacturing capacity for the ophthalmic products and sterile water for injection. The expansion is expected to complete by mid of 2008.
In an email interaction with Pharmabiz, Anil Mittal, chief executive officer, said, "We are investing Rs 50 crore for modernizing our Indore plant which includes the renovation, automisation, installation of clean room panels and loading of high tech instruments for quality control. We are expanding our R&D base and it is our focus area. We are identifying new areas of disorders where patients can have the hope for quality with cure. At present, 8 scientists are working in our R&D centre at Indore. We are planning to recruit 10 more scientists, to make Indore as our main R&D centre".
The company has recently diversified into single dose eye/ear drops dispensers. It has launched its branded segment which consisted of tablets/capsules/liquid orals. It is pioneer in the polypropylene packing for IV fluids which had broken the market of IV fluids at that time when glass bottles were predominantly used. Initially, its production capacity was around 5000 bottles per day, but today it is 6,00,000 bottles per day. The advantages of polypropylene have reduced the market for glass bottles and over a period of time polypropylene has become a force to reckon with in IV fluids segment.
Its state of the art production facility at Baddi, comprises manufacturing facility for IV fluids along with tablets /capsules /injections. The company is keen into upgrade its existing Indore unit to that of Baddi facility.
Parenteral Drugs consists of maximum share of its business from intravenous fluids. However, in branded segment the famous five are; ceftiwin tablets, ceface tablets, antoxy-1 tablets, ranizac tablets and silenser cough syrup and tazomax injections, calset tablets and ciprodex.
With the growth rate of 20-25 per cent, Parenteral has generated sales revenue of Rs 175 crore this year and expects to reach Rs 300 crore in the next financial year.
Talking about future expansion, Mittal, said, "Currently, we are focussing on anaesthesia, cardiology, diabetology and neurology. But in near future we are planning to get into vaccine segment which is the one of the fastest growing segment in pharma industry. The innovative product line will include the rabies vaccine and serums etc".
