• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

C.R. Sukumar

Hyderabad , Feb. 22

HIKAL Ltd, the Mumbai-based Rs 167-crore pharmaceutical and agrochemicals major, is all set to aggressively the tap the US market with the launch of two blockbuster drugs for which the company has already obtained USFDA approvals.

"We hope to launch these products in the US market during the second half of this year. We also have plans to launch the products in the European market by year-end," Mr Jai Hiremath, Vice-Chairman and Managing Director, told Business Line.

Of the two blockbuster drugs, Gabapentin is an epilepsy drug with a market size of $3 billion.

The second blockbuster drug, Bupropion Hcl, is an anti-depressant drug currently enjoying a market size of over $2 billion, he added.

According to Mr Hiremath, the company has adopted a business model of partnering with global pharma and agrochemical multinationals and not to compete with them.

"We have long-term relations with a number of multinational majors. With the new patent regime coming into force from this year, we expect more players to enter into alliances with us thanks to our observance and respect for intellectual property rights."

Hikal has entered into a long-term agreement with a leading US-based company, Crompton Corporation, for manufacture and supply of a new generation crop protection product.

The shipment of the agrochemical products to Crompton Corporation would begin next fortnight, Mr Hiremath said.

In a bid to improve its topline and increase its presence in the global market, Hikal last year acquired 51 per cent shareholding in the Denmark-based Marsing & Co, a Rs 250-crore European pharmaceutical marketing and distribution company.

According to Mr Hiremath, the European acquisition would enable Hikal gain access to Marsing's network of customers.

Marsing has a sound distribution network of around 1,200 customers in 100 countries across Europe, South America, Africa and West Asia and warehousing facilities in Europe and Africa.

"Added to an attractive profit margin, a net profit of Rs 27 crore and cash flows of Rs 40 crore last fiscal, a debt-equity ratio of 1:1, credit rating of A+1 and low-interest dollar borrowings, the company is ready with capacities and customer relationships in place. We think we have created the right platform for growth and awaiting huge opportunities in both contract research and manufacturing. We hope to register a growth of 30-35 per cent per annum in the next few years," Mr Hiremath said.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Syngene plans to set up another research centre

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line