Financial Daily from THE HINDU group of publications
Friday, Dec 30, 2005
Financial Daily from THE HINDU group of publications Friday, Dec 30, 2005 |
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Corporate
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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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