Business Daily from THE HINDU group of publications
Wednesday, Jul 26, 2006
Business Daily from THE HINDU group of publications Wednesday, Jul 26, 2006 |
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Corporate
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New Projects Wanbury on expansion mode C.R. Sukumar
Growth strategy The company is currently at an advanced stage of merging DOCL, PPIL with itself It has embarked upon a Rs 25-crore two-phased expansion at the Tanuku facility Wanbury has launched super specialty research division `Osteolife' catering to orthopaedic specialty
Hyderabad , July 25 The Rs 110-crore drug company Wanbury Ltd, created out of the merger of Pearl Organics and Wander, has embarked upon an expansion programme while setting its eyes on doubling the topline size to around Rs 220 crore by the current fiscal-end and to around Rs 570 crore by 2010. The company, which has recently acquired Doctors Organic Chemicals Ltd (DOCL) and Pharmaceutical Products of India Ltd (PPIL), is currently at an advanced stage of merging these two companies with itself. The largest producer of Metformin, the diabetes management product with over 20 per cent of global market share, is in the process of expanding the capacities from the existing 3,600 tonnes per annum to 4,500 tpa in two phases by third quarter-end, the Wanbury Director, Corporate Finance, Mr Ashok Shinkar, said. Metformin has global sales of over 18,000 tonnes and is growing at over 20 per cent per annum.
CRAMS facility
Having recently acquired a unit of DOCL at Tanuku in Andhra Pradesh, a USFDA approved multi-product facility, Wanbury is planning to use the facility mostly for contract research and manufacturing services (CRAMS), he told Business Line. The company has embarked upon a Rs 25-crore two-phased expansion at the Tanuku facility. According to Mr Shinkar, Wanbury would be manufacturing high-value products such as sertraline, paroxetine and carvedilol from the first phase of expansion. In the second phase, it proposes to manufacture 4-6 new products that were developed at its process research facility near Mumbai.
`Osteolife'
As a part of its growth strategy, Wanbury has launched a super specialty research division `Osteolife' catering to orthopaedic specialty. The company expects to penetrate into the segment with target health issues such as osteoporosis, osteoarthritis and pain management with new and improved products on a regular basis, he said. Having acquired from PPIL a facility at Tarapur and another large partly finished facility at Patalganga, Wanbury expects to widen its product portfolio and presence in active pharmaceutical ingredients and increase its sales significantly. In May, Wanbury obtained approval from the Bombay High Court to go ahead with the process of merging PPIL with itself and is currently awaiting an order from the Board for Industrial and Financial Reconstruction. According to Mr Shinkar, the completion of Patalganga facility would add another large USFDA approvable facility. It also expects to offer CRAMS from this facility, he said. "These acquisitions are aimed at increasing sales and widening of the product portfolio in the US markets and also for foraying into contract research and manufacturing services. Doctors Organic presently does contract manufacturing for leading MNCs and few more MNCs are exploring the possibility."
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