Business Daily from THE HINDU group of publications
Thursday, Apr 05, 2007
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Business Daily from THE HINDU group of publications Thursday, Apr 05, 2007 ePaper |
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New Projects United Biotech mulls Rs 15-cr oncology division Our Bureau
New Delhi April 4 United Biotech is investing Rs 15 crore in a new division to enter the oncology segment. The company has set up a dedicated unit at its facility at Baddi in Himachal Pradesh to meet its plans for the segment. The new division has tied up with Blausiegel, a Brazilian company, for its entire range of biotechnology products for cancer treatment and is in discussions with four global pharma companies for other strategic tie-ups. Unitech, founded in 1997, said in a statement that its oncology division will make and sell molecules ten times cheaper than the drugs sold by international pharma companies. It will manufacture and market molecules that are currently being exclusively marketed by MNCs. "To funnel our short-term growth plan in the oncology segment, we aim to tap the global oncology generics business opportunity worth $14-15 billion in the next five years," said Mr R.K. Dewan, Vice-President (Marketing). "Our long-term growth plan in the oncology segment will come through new drug delivery systems being developed by in-house scientists and supplementing its strength through alliances." United Biotech is looking forward to five new divisions in the near future, the company said.
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