Financial Daily from THE HINDU group of publications
Sunday, Jul 17, 2005
Financial Daily from THE HINDU group of publications Sunday, Jul 17, 2005 |
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Corporate
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New Projects Dabur Pharma plans another formulation production plant
Nilanjan Dey
Kolkata , July 16 Dabur Pharma Ltd plans to set up another formulation production facility, a unit that would fully comply with the guidelines of USFDA. According to Dr Anand C. Burman, Chairman of Dabur Pharma, the factory will be of global standards, one that will help the company meet the increasing demand of formulations. "We have plans to set up another USFDA-compliant manufacturing facility to meet the growing demand of formulations for several regulated international markets", Dr Burman told shareholders in the company's annual report. During 2004-05, Dabur Pharma's West Bengal unit, which is located in Kalyani, had received USFDA approval. This is an API (active pharmaceuticals ingredients) manufacturing plant. The Chairman termed this a "significant achievement". Apart from this plant, the company runs another plant at Baddi in Himachal Pradesh and the third at Bordon in the UK. The plant in Britain is owned by Dabur Oncology Plc, a 100 per cent subsidiary of Dabur Pharma. Though the company did not make any categorical statement on the location of the proposed plant, sources said it would probably be in Baddi again. The capacity of the Kalyani factory, which has already secured the TGA (Australia) approval, will be expanded as it will cater to the bulk drug requirements of the European markets. Meanwhile, Dabur Oncology has filed two ANDAs (Abbreviated New Drug Applications) in the US market. According to Dr Burman, this is the first step towards "making an entry into the regulated US market". For the year ended March 31, 2005, Dabur Pharma registered a turnover of Rs 234.80 crore, marking a growth of 9.94 per cent. Profit before tax was Rs 28.09 crore and profit after tax was Rs 22.55 crore. Exports grew by 31.93 per cent at Rs 106.61 crore. On Friday, when the Sensex moved up by more than 80 points, the Dabur Pharma stock (Face Value: Re 1) opened on the NSE at Rs 56.50, higher than the previous day's close of Rs 53.85. It closed Friday's session at Rs 55.80.
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