Pune-based Emcure Pharmaceuticals will be the latest entrant to the country's biotechnology industry, considered to be a 'sunrise' industry by the country's pharmaceutical experts. Although a medium-sized pharma company, Emcure has no exposure to biotech field.
Emcure will be setting up a biopharmaceutical-manufacturing base at an area of six acres at Pune's Hinjewadi Biotech Park. The company is not new to the area, as it has already set up a 10-acre facility to manufacture mainstream pharmaceutical products. The company also possesses plants at other parts of Pune.
Confirming the news the company's senior manager, business development, Mukund Ranade said, "Emcure will be setting up its biotech facility at a six acre area adjoining its current 10 acre facility at the Hinjewadi Park."
It is understood that company will also be setting up a vaccine development and recombinant vaccine development facility in the site.
Emcure was the first company to buy a 14-acre plot at the park. Four acres were left unused. Recently the company agreed to purchase two more acres from the park.
Emcure has recorded a CAGR of 45 per cent in the five years ended December 2001 as against industry average 9 per cent. Antibiotic, anti-infective, anti-diabetic, anti-asthmatics, topical products, cardiovascular, and food supplements are major areas of the company's current activity. Emcure has also entered into technical agreement with National Chemical Laboratory (NCL), Pune for Chiral Technology.
Emcure and Shreya Life Sciences are the only occupants in the Hinjewadi Biotech Park. Taking out Emcure's 16 acres and Shreya's 15 acres, 79 acres are left of a total of 110 acres of developable land in Hinjewadi. To help the startups and small companies, the park is ready to sell an area lower than one acre in the park.