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Friday, Dec 30, 2005


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Corporate - Announcements

Ethypharm to invest $3 m to upgrade plant

Our Bureau

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.

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