Financial Daily from THE HINDU group of publications
Thursday, Mar 10, 2005
Financial Daily from THE HINDU group of publications Thursday, Mar 10, 2005 |
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Corporate
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New Projects India to become sourcing centre for Fresenius Kabi Our Bureau
New Delhi , March 9 INDIA is poised to become one of the biggest sourcing centres for the German healthcare company Fresenius Kabi AG. The company's wholly-owned subsidiary is upgrading its manufacturing facilities to the European Good Manufacturing Practice (EU GMP) standards. Speaking to Business Line, Mr Rakesh Bhargava, Managing Director and CEO, Fresenius Kabi India Pvt Ltd, said, "Fresh investments will be made to upgrade the manufacturing facility at Ranjangaon, near Pune. "We hope to get our approvals from the EU regulators by the end of this year. This will enable us to service many countries in Europe, Australia as well as in the Asia-Pacific region. Later we hope to get approvals for the US markets as well." The company manufactures parenterals (drugs administered by injection under or through one or more layers of skin or mucous membrane) and markets blood replacement products, clinical nutrition, intravenous fluids and infusion devices in India. According to Mr Mats Henriksson, Member of the Management Board and President of the Asia-Pacific region, Fresenius Kabi, "India is a high priority market for the group and this evident from the large financial commitments made by the parent. "We have invested about Rs 97 crore in equity and Rs 77 crore in fixed assets. The total sales from the market is about is about Rs 76.6 crore."
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