Mumbai, Dec. 29
ETHYPHARM said it plans to invest $3 million in its plant and R&D facility in India.
The company will be investing $2 million to upgrade its existing WHO GMP approved production facility at Ambernath, near Mumbai, to EUGMP standards.
Another $1 million will be invested in upgrading the R&D centre, also located at Ambernath.
Ethypharm specialises in novel drug delivery systems (NDDS). Globally the market for NDDS is about $75 billion.
India represents a huge opportunity both as a market as well as a manufacturing clinical and R&D hub.
"By licensing out our NDDS technologies to Indian companies we hope to have a significant impact in the cost of medicine in the country as well as on patient compliance," the company said in a news release.