Avestha Gengraine Technologies Pvt. Ltd (Avesthagen), one of India’s leading biotechnology companies, has taken a step in consolidating its leadership position in the area, with the formation of its biologicals manufacturing venture- Avesta Biotherapeutics Pvt Ltd. The venture, based in Bangalore will manufacture a new generation of targeted therapies that are already in development at Avesthagen.
In addition, the new venture will exploit opportunities in co- development of novel biologicals and biologicals Contract Manufacturing worldwide, a fastest exploring growth segment in the pharmaceuticals arena. Meditab Specialties Pvt. Ltd. is partner on the venture.
Confirming the development, Dr. Villoo Morawala Patell, Founder and CEO, Avesthagen stated- “I believe that India and Avesthagen in particular, have the capacity and capability to drive the development of new biologicals and this venture is the first step in that direction.”
The drug development programme at Avesthagen, which focuses on the development of biopharmaceuticals in the area of autoimmune disorders and cancers, is expected to release the first biotherapeutic in the market in late 2006. Avesthagen already has a development partnership with Cipla Ltd in biotherapeutics and the products are expected to be marketed through the Cipla marketing channels. The new manufacturing facility will be US- FDA compliant and phase one is expected to go on- stream by the second quarter of 2006.
The Indian biopharmaceutical business, presently at $200 million, is expected to grow to about $3.3 billion by 2007- 08, dominated by recombinant proteins, vaccines and monoclonal antibodies. ABPL hopes to capitalize on this opportunity as a base, to catapult it into markets abroad.
As a part of the business plan, the company will also set up cord blood banks in the country to cater to the growing demand in the area. The cord blood banks are also expected to be in a place at the same time. Avesthagen’s existing pharmacogenomics program will be integrated with this business and will be the first such offering in the country.