The Hindu Business Line : Ind-Swift Lab to set up Rs 25-crore R&D unit

This proposal is among the six major projects cleared recently by the Punjab Government for investments under the mega projects scheme, as part of its initiative to lay greater emphasis on industrial development in the State.

"We propose to file at least four DMFs (Drug Masters File) every year in the regulated market, especially as we have already established an office in New Jersey to consolidate our presence in this market," said Mr V.K. Mehta, Joint Managing Director of the company.

Mr Mehta told Business Line that in the first phase, Rs 15 crore would be invested in the R&D centre, while the second phase would envisage an injection of Rs 10 crore. The company is also setting up a multi-purpose pilot plant at an investment of Rs 15 crore to ensure timely delivery of bio-batches of the new molecules developed by the R&D centre to the regulated market.

The company is also investing Rs 7 crore to expand the production capacity of its Nitazoxanide molecule, which is the first molecule in its segment to receive an FDA approval in the last 40 years for Giardiasis and is the only approved drug for the treatment of diarrhoea caused by cryptosporidium parvum to children in the 12-month to 11-years age group.

These expansion plans will be implemented in a phased manner over the next three to four years. The company, which has a present turnover of Rs 165 crore, is engaged in manufacture of macrolide antibiotics namely Clarithromycin, Roxithromycin and Azithromycin, cardio-vascular products such as Atorvastatin, Candesartan and Cloppidogrel, drugs for diabetics, anti-histamine segment and steroids.

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