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Our Bureau

Hyderabad, Oct. 10

SMS Pharmaceuticals, a manufacturer of active pharmaceutical ingredients (APIs), commenced operations at its new manufacturing facility for oncology segment located in Jawaharlal Nehru Pharma City near Visakhapatnam.

“We are already manufacturing some APIs for oncology drugs and have six to seven products in the pipeline. The Visakhapatnam facility will act as a hub in this segment,” Mr Ramesh Babu Potluri, Chairman and Managing Director, SMS Pharmaceuticals Ltd, told newspersons here on Friday.

The validation batches (of APIs) would be completed in the next six months and the plant, set up with Rs 50 crore, would contribute to the overall revenues of the Hyderabad-based company (Rs 237 crore during last fiscal) from the next financial year.

“We are expecting to generate Rs 30-40 crore business from the plant,” Mr Babu said.

SMS, in association with its partner Julphar, a Gulf Pharmaceutical Industry promoted by Ras Al Khaimah, would look for avenues in the formulations business in Europe and the US, he said.

Julphar has a nine per cent stake in SMS. The company is also scouting for acquisition of units in overseas and domestic market to broad base its product manufacturing capabilities, he added.

Mr Sheikh Faisal Bin Saqr Al Qassimi, Head of Finance Ras Al Khaimah said, “there will be no problem in increasing the investment in SMS Pharma if there is right need”.

More Stories on : New Projects | Pharmaceuticals

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