Strides Arcolab Limited has invested Rs 18 crore in a state-of-the-art research laboratory, which is scheduled for commissioning in December 2004. The research facility is coming up at Bilekahalli in Bangalore where its corporate office is situated.
The company is expected to hire scientific personnel for its new research and development facility. Currently the R&D centre has strength of 40 personnel and 100 more are expected to be recruited, Arun Kumar managing director, Strides Arcolab told Pharmabiz.com
There is also a new exclusive facility under construction at a cost of $7 million for the production of Cephalosporin formulations is coming up at Bilekahalli. There will extensive hiring for the new plant by Strides to augment its exiting 1000 work force.
Early this year, the company signed up a Memorandum of Understanding (MoU) with Ribbon S.R.L of Italy one of Europe's largest manufacturers of semi-synthetic Penicillins and Cephalosporins (both oral and sterile) to manufacture and market Cephalosporin formulations for the regulated markets. The major revenue generators for Strides are soft gelatine and steriles from the regulated markets. "A dedicated facility for cephalosporin would help Strides to augment its earnings from the regulated markets, "stated Arun Kumar.
Strides, one of India's leading generics, OTC and nutraceutical manufacturer, is expected to work on specific projects in the regulated markets where it will enter into contract manufacture and contract formulation development. It is now developing non-infringing processes as an alternative business proposal. All these efforts will begin to pay off from 2005 to 2007 in a phased manner.
The company has a key presence in Brazil in hospital supplies and generics. Both the products contribute 20 per cent of the company's total sales earnings. With a tie-up with Cellofarm, a leading Brazilian distributor of hospital products, Strides is now a dominant player in the hospital market. It has 60 hospital products registered and 30 products are commercialized. Recently the company launched a generic, which has a dominant position in the segment. "We expect to generate export earnings to the tune of US$ 30 million, from Brazil," stated Arun Kumar.