Financial Daily from THE HINDU group of publications
Thursday, Oct 28, 2004
Financial Daily from THE HINDU group of publications Thursday, Oct 28, 2004 |
||
|
|
||
|
Corporate
-
Outsourcing Nicholas Piramal may ink 4 outsourcing deals — Plans to set up manufacturing facility in Himachal P.T. Jyothi Datta
Mumbai , Oct. 27 Nicholas Piramal India Ltd (NPIL) expects to ink four more outsourcing deals by March 2005. The company is also in the process of setting up a manufacturing facility at Baddi, Himachal Pradesh, for the domestic market. In line with its "differentiated exports strategy," NPIL expects to ink two customised manufacturing deals by the turn of this year and another two by March 2005, the NPIL Chairman, Mr Ajay Piramal, said last week at a meeting with analysts. While no mention was made of the segments in which the tie-ups would be, he said that the deal would be between $15 million and $20 million and it could be in the bulk drugs or formulations (finished medicine forms) category. In December last year, NPIL tied-up with the US-based Advanced Medical Optics (AMO), a global company in ophthalmic surgical devices and eye care products, for the supply of selected components of AMO's eye care products. Meanwhile, on the manufacturing front, the company is in the process of setting up a finished drugs manufacturing plant in Baddi, at an estimated Rs 140 crore. The manufacturing unit was likely to be completed by March 2006 and would cater to the domestic market, he said. While it would comply with international standards, it would take on the manufacturing for the domestic market in India, company officials explained. "All the manufacturing done for the local market at NPIL's Pithampur plant, in Madhya Pradesh, would be shifted to the Baddi plant. The Pithampur plant would be dedicated to exports and would manufacture the products, as envisaged in the custom manufacturing deals," the official said. Further, the official said that the finished dosages plant at Pithampur would go in for regulatory approvals or the US Food and Drug Administration clearance in the calendar year of 2005. Meanwhile, all the bulk drug manufacturing would be concentrated at NPIL's facility in Hyderabad.
More Stories on : Outsourcing | New Projects | Pharmaceuticals
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|