Financial Daily from THE HINDU group of publications
Wednesday, Jun 08, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jun 08, 2005 |
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Corporate
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Announcements Shasun expands product-base — Not to dilute its dependence on Ibuprofen P.T. Jyothi Datta
Mumbai , June 7 ANTI-INFLAMMATORY drug Ibuprufen continues to hold promise for the Chennai-based drug maker Shasun Chemicals and Drugs Ltd, even as it expands its product-base into other segments. Supplies of the active ingredient in Ibuprufen accounted for about Rs 160 crore of the company's revenue of Rs 319 crore. But Shasun is not looking to dilute its dependence on Ibuprofen, though it is widening its spread into other segments, said the Joint Managing Director, Mr S. Vimal Kumar. Shasun has about 15 per cent of the Ibuprufen market in the US, where it supplies to two generic companies. It expects to supply to two more companies and if all hurdles are cleared, Shasun expects to sell to them in another 18 months. The company has also tied-up with a US company to supply the active ingredient of anti-ulcer drug ranitidine. Shasun has a tie-up with the innovator company GlaxoSmithKline for the supply of ranitidine. Last year about Rs 55 crore of Shasun's revenues came from ranitidine, he said. Through its existing alliance with Eli Lilly, Shasun is also servicing a deal in the Japanese market for Nizatidine. A Rs 60 crore business for Shasun, the company has a 100 per cent purchase deal with multinational drug company Eli Lilly. Shasun is looking to increase the scope of its involvement with Lilly and GSK, he added. Having recently forayed into the formulations business or the finished dosage forms of medicine, Shasun is watching the legal intricacies around marketing Pfizer's epilepsy drug gabapentin. Shasun is looking to supply to the US market if its talks with two companies in that market crystallise. A patent-infringement case regarding this drug, filed by Pfizer against Teva and Alpharma, is still pending in a US court. Shasun hopes to commercialise this deal by January next year, he said. Meanwhile, Shasun has a deal for 22 products with Alpharma in segments such as cardio-vascular and central nervous system, to be launched over three years. He expected the first product from this deal to be launched in March 2007. A similar deal has been inked with Glenmark too and the first product from this deal is slated for launch in June 2006, he added. Shasun has set up additional capacities to support its plans. Besides its bulk drug facility in Cuddalore and a bulk and formulations facility in Pondicherry, the company is also looking to set up a pilot plant to support its biotech plans. The estimated Rs 8-crore plant is located about 30 km from Chennai, he said. The company is open to acquisition opportunities in terms of the USFDA-approved bulk or formulation plants, he said. Shasun's new research and development centre is also expected to be commissioned next month. The company expects to end the current financial year with a topline growth of 20 per cent, though profits will be pegged less than that, he said.
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