Financial Daily from THE HINDU group of publications
Thursday, Nov 28, 2002
Financial Daily from THE HINDU group of publications Thursday, Nov 28, 2002 |
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Corporate
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Research & Development Gland Pharma sets up Rs 7-cr R&D unit Our Bureau
HYDERABAD, Nov. 27 GLAND Pharma, a leading manufacturer of injectables has added a new research and development (R&D) pilot plant, with an investment of Rs 7 crore at Dundigal, about 20 km from Hyderabad. The plant, inaugurated by the German Ambassador to India, Mr Heimo Richter, on Tuesday would facilitate the R&D activities and manufacture of high value small volume products. The company has several products at R&D stage, which will get a boost for conversion into commercial grade. The R&D plant has been named after McLean, the inventor of Heparin. Gland Pharma has a joint venture with the Vetter Group, Germany, Europe's leading contract manufacturing company for injectables in pre-filled syringes. It also has an equity partnership from DEG German Investment and Development Company. Gland Pharma also imported machinery from Germany, which is installed in the newly constructed packing facility. The unit inaugurated by Mr Ulf Hanel, German Consul General, has been created with an investment of Rs 3 crore and caters to the latest packaging needs of the pharma industry, according to company officials. Mr Richter said India was fast becoming a global re-sourcing centre for pharmaceutical products and felt that soon the country would become a force to reckon with its rich human capital. As part of its future growth plans, the company at present focuses on the manufacture of ampoules, vials and pre-filled syringes and wants to use its facilities to provide cost-effective and turnkey solutions to the generic pharma markets. Another strategy was to undertake contract-manufacturing services for the regulated markets, the company said.
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