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Our Bureau

Mumbai , May 28

DISHMAN Pharmaceuticals and Chemicals Ltd, the Ahmedabad-based bulk-drugs company, is looking to emerge from the perception of being too "Solvay-centric" or dependant on its long-term contract with Solvay Pharmaceuticals b.v. of Netherlands.

Mr J.R.Vyas, Managing Director of the company, told newspersons here that the company had inked deals with a Japanese and East European company for the supply of intermediaries. Dishman manufactures bulk intermediates or the ingredients that go into making a medicine. The company had commenced production to support these two deals, he said, unwilling to divulge details. Dishman was in discussion with Girindus, a German company, to purchase an ingredient that found its application in suntan lotion. Dishman looks to purchase the ingredient at euro 5 million and he expected the deal to be closed in a month's time. The product had a global potential of an estimated euro 15-20 million, he said.

By 2006, the company is further looking to formalise two deals "that are equal or larger in size than the Solvay contract". Dishman is in negotiations with two companies in Europe and one company in the US, he said, and the contracts are estimated to be in the range of $10 million per annum, respectively.

Dishman's consolidated sales, including its global subsidiaries, were up 43.63 per cent to Rs 171 crore for the year ended March 31, 2004. Net profit increased by 30.83 per cent to Rs 20.8 crore.

More Stories on : Outlook | Pharmaceuticals

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