The Hindu Business Line : Indoco Remedies to kick off 2 projects in April

Indoco Remedies Ltd expects to operationalise its new research facility at Navi Mumbai and its manufacturing facility at Baddi in Himachal Pradesh by early April.

The new research centre, at an estimated investment of Rs 17 crore, will have about 50 scientists in the first phase and will go on-stream by later this week, Ms Aditi Kare Panandikar, Indoco's Director for Business Development and Human Resource Development told Business Line.

The company already has a research facility at Andheri, also in Mumbai's suburbs, for the development of finished dosage forms of medicine. The new research facility is for bulk ingredients, she said. The estimated Rs 30 crore plant in Baddi too is scheduled to go on stream later this week, she added.

Indoco is also looking to acquire product licenses in the UK through Indoco UK Ltd, its wholly owned subsidiary, Ms Panandikar said.

The company is scouting for licenses in France and the UK, she added.

Meanwhile, Indoco said that it got UK regulatory approval for its new facility in Goa for tablets, creams, ointments and capsules.

Foray into more markets

And while this would support its export to the European markets, the approval would also open doors to the Australian and New Zealand markets, she said, as there is mutual recognition between these markets.

Indoco's Goa facility has a team of over 100 employees and the tablet manufacturing unit has a capacity to produce 3 billion tablets per annum, the company said.

The company is also looking to get regulatory approvals from South Africa to support its joint venture company, Indoco South Africa Pty Ltd, in which Indoco holds 55 per cent equity.

This would help kick start exports to the South African market, even as business with neighbouring semi-regulated markets have got underway, she said.

The company has set itself a target of clocking revenues of Rs 1,000 crore by 2010.

More Stories on : New Projects | Research & Development | Pharmaceuticals | Maharashtra

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