Financial Daily from THE HINDU group of publications
Saturday, Jul 12, 2003
Financial Daily from THE HINDU group of publications Saturday, Jul 12, 2003 |
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Corporate
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Announcements J B Chem to launch respiratory products Our Bureau
Mumbai, July 11 J B CHEMICALS and Pharmaceuticals Ltd plans to enter diabetes, respiratory and oncology segments and is set to launch three to four products in these segments soon. An anti-cold tablet and a drug for the treatment of digestive disorders will also be launched this year, said Mr J.B. Mody, Chairman and Managing Director, J B Chemicals and Pharmaceuticals Ltd, at the company's annual general meeting in Mumbai. "Motiza, a gastro intestinal product, and Rhino, an anti-cold tablet, will be launched shortly along with line extensions of ranitidine and pantoprazole. The combined market size for Motiza and Rhino is approximately Rs 415 crore,'' he added. According to Mr Shirish Mody, Director, J B Chemicals and Pharmaceuticals Ltd, the company expects its first ANDA (Abbreviated New Drug Application) approval by December 2003. J B Chemicals had filed an ANDA for ciprofloxacin tablets in the US for three concentrations, 250, 500 and 750 milligram through a joint venture with US-based Spectrum Pharmaceutical Inc. The current US market for this product is estimated at $ 1.5 billion. J B Chemicals plans to file three-four ANDAs each year for the next five years in the anti fungal, cardiac care and anti-infective segments. The company is in talks with several multinationals through its US joint venture partner for out-licensing its NDDS (new drug delivery system products) for further development, Mr Shirish Mody said. The international business is to get a considerable boost with the United States Food and Drug Administration likely to complete inspection of the company's tablet-making facility at Panoli by December 2003. "We are setting up a green-field facility at Daman with a total outlay of Rs 28 crore completely funded through internal accruals. The facility is expected to be operational by the year-end,'' Mr J.B. Mody said. Two units, one export-oriented for manufacturing cough syrup, Doktor Mom, a popular brand of JB Chemicals in CIS countries, and the other will be a tablet-making unit. For the year ended March 31, 2003, the company had posted sales of Rs 291.77 crore and net profit of Rs 48.54 crore. At the AGM, the shareholders approved an 80 per cent dividend for the year 2002-03.
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