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Our Bureau

Ahmedabad, Aug. 23 Sterile dosage products manufacturing company Marck Biosciences Ltd will invest Rs 80 crore over the next three years to set up an additional unit at its Kheda facility near Ahmedabad, said Mr Bhavesh Patel, Managing Director. IFCI Venture Capital has purchased an undisclosed stake in the company for Rs 20 crore. Rest of the Rs 60 crore will be funded through further borrowings and internal accruals, he said.

The company is in talks to acquire land adjacent to the factory for setting up a third unit at a future date, said Mr Ravi Gangal, Assistant Vice-President, International Business.

The new unit will manufacture formulations and injectables in glass vials, sterile ointments, mono-dose opthalmics and lens cleaning solutions for global markets. Last year, around 25 per cent of the company’s business came from overseas. Post-expansion though, the contribution of exports to the total business will not change in percentage terms, it will increase two-fold in absolute terms, said Mr Gangal.

The company plans to launch its products in 15 countries during 2008-09 and is looking for marketing partners in Latin America, South-East Asia and eastern Europe, he said. The country has substantial presence in Latin America and South East Asia, but has been unable to crack the East European market due to a late entry, said Mr Bhavesh. The company has filed around 400 dossiers and is awaiting approval for 200 more, he added.

Marck caters to domestic companies, including Sun Pharma, Zydus Cadilla and Torrent Pharma, and international companies such as Water Jet Technologies, US, through contract manufacturing — which contributes 15-18 per cent of the company’s turnover. The company reported a turnover of Rs 56 crore in financial year 2008 and expects to do sales worth Rs 100 crore by 2009-end.

More Stories on : Outlook | Pharmaceuticals

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