Chandigarh based Ind-Swift Laboratories is looking for increasing its contract research and manufacturing services in the US market. The company has announced the launch of a subsidiary, Ind-Swift Laboratories Inc, in the United States. The subsidiary is to commence operations from April.
Vikas Narendra, a techno commercial professional who joined the company recently would head the operations of the ISLL Inc from USA, stated a press release.
The company expects to get closer to “innovative players” in pharma segment through the new subsidiary. The Company has already recruited top officials for its US office.
The new ISLL outfit would essentially seek Custom Research, Custom manufacturing arrangements and strategic partnerships in this market. The company has already tied up with four leading US companies for supply of products. According to Vikas Narendra, Ind-Swift is not “a late entrant in the US market, and its presence in US is meant to augment the business relations and long term tie ups”.
Confirming the news Mr. N.R.Munjal, Managing Director said that “the subsidiary under the name Ind-Swift Laboratories Inc has been incorporated and is expected to commence operations by April, 2004.
ISLL is an emerging API player, with a clear focus on positioning itself as a primary supplier of bulk drugs to regulated markets. Hitherto focused on unregulated/soft regulated markets, ISLL has been steadily building a platform for a foray into regulated markets – the company has invested heavily in manufacturing and R&D infrastructure, and efforts are also on to develop a front end in the target markets. With six cGMP compliant plants and a robust product basket of 18 molecules (20 more in the pipeline), ISLL is well set to reap the rewards of its initiatives over the next few years.
ISLL is positioning itself as a primary supplier of APIs to generic players in regulated markets. The company already has a good presence in unregulated/soft regulated markets (exports 18 products to over 40 countries) – it is now in negotiations with global players for the supply of high potential drugs like clarithromycin, atorvastatin and fexofenadine to regulated markets on patent expiry. ISLL has already built up sizable capacities in some of these molecules, and is now well set to reap the returns on its investment.