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G. Naga Sridhar

Hyderabad June 22 Global contract drug manufacturing firm Aptuit Inc would shift its manufacturing activity to India in a phased manner following the merger of Hyderabad-based Laurus Labs with Aptuit to form Aptuit Laurus.

"Aptuit Laurus facilities in India will serve as a manufacturing base for our active pharmaceutical ingredients to cater to the needs of over 600 customers globally," Mr Frank J. Wright, Vice-Chairman, Aptuit Inc, told Business Line here.

"Globally, there are three geographies — North America, Europe and India — which will anchor the drug discovery/manufacturing activity — in a significant manner in the years to come. We have a strategy in roping in Indian partners in our business growth," he said.

"We believe in acquisition-led growth. However, our current focus is on Europe as we had already zeroed in on Laurus Labs in India," Mr Wright said.

The $200 million lined up by Aptuit Inc for investment in Aptuit Laurus would be mainly invested in building-up large-scale dosage from manufacturing capabilities and augmenting its human resource to over 700 from the current 300 in the next one year, he said.

Mr C. Satyanarayana, Chief Executive Officer, Aptuit Laurus, said the immediate focus for the company was on medicinal chemistry, clinical phase dosage forms. As a contract research player, the company would also develop new chemical entities (NCEs) in cardiovascular, oncology and anti-inflammatory areas, he added.

The relationship of Aptuit Inc and Aptuit Laurus would be of complementary nature for the next two years as far as the business model is concerned. "At present , Aptuit Inc is holding a significant minority stake in Aptuit Laurus. After two years, it would have a 51 per cent stake," Mr Satyanaryana said.

The promoters of Laurus Labs did not sell their equity to Aptuit Inc. "We have infused fresh equity and are keen in participating in the growth of Aptuit Laurus," he added.

"Aptuit Laurus has a 160,000-sq ft facility in the ICICI Knowledge Park here and is constructing a 34-acre facility in the Pharma City at Visakhapatnam."

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