Financial Daily from THE HINDU group of publications
Saturday, Feb 26, 2005
Financial Daily from THE HINDU group of publications Saturday, Feb 26, 2005 |
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Corporate
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New Projects Hikal to inaugurate pharma ingredients plant today Our Bureau
Bangalore , Feb. 25 HIKAL Ltd will inaugurate on Saturday its Bangalore plant to make high-potency active pharma ingredients (HAPI). The plant will manufacture high-volume, small-dosage chemicals such as steroids for its international customers. The new plant, the fourth one to come up at its Jigani facility near here, is USFDA-compliant and one of the few in the country with such niche capabilities, according to Mr Jai Hiremath, Vice-Chairman and MD, and Mr Sameer Hiremath, Executive Director. With the HAPI plant, the Mumbai-based Hikal now has 12 manufacturing units spread across Gujarat, Maharashtra and Bangalore. The Rs 167-crore company is also starting a new contract research facility at Pune with an initial investment of Rs 20 crore, which is scalable to 100 scientists in a couple of years. The centre will be ready by 2006 and take up international contracts that look set to increase in the new patent regime. The R&D unit at Bangalore will cater to the internal needs of the company, Mr Hiremath said. According to him, Hikal, predominantly active in agrochemicals supplies, has been increasing its focus on the API and contract research business in recent years, with up to Rs 70 crore investments in pharma expansions. In 2001 it acquired the Recon facility in Bangalore and invested Rs 30 crore to upgrade it to WHO GMP, US FDA and TGA (Australia) requirements. The existing Bangalore entities make APIs and intermediates for domestic and international customers for treating lifestyle diseases, epilepsy and also the blockbuster antidepressant, Gabapentin. The real benefits would be tangible in the second half of 2005. More recently, the company acquired 51 per cent stake in Danish distribution and marketing company, Marsing & Co, at a cost of $6 million. Mr Hiremath said that this would give Hikal a combined turnover of Rs 500 crore besides a reach in Central and Eastern Europe, South America and Africa. Hikal has also announced that it has formed a three-member global scientific advisory board to guide its strategies. The board includes Prof Goverdhan Mehta, Director of IISc, and two European scientists.
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