The AP-based Vista Pharmaceuticals Ltd has informed that the Board of Directors of the company at its meeting held on December 22, 2005, has approved the commercial production of sulfamethoxazole and trimethoprim.
Visa Pharmaceuticals Inc, USA, promoter of the company has received US FDA approval for sulfamethoxazole and trimethoprim. These drugs will be manufactured and exported by the company.
A senior official told Pharmabiz that the company is planning to upgrade its existing US FDA manufacturing facility in Nalgonda district of Andhra Pradesh for manufacture of sulfamethoxazole and trimethoprim. The up-gradation will be undertaken in the last quarter of the financial year 2005-06 to enable manufacture of the ANDA product in the financial year 2006-07 as per new FDA norms. The upgradation is expected to cost the company about Rs 2 crore.
The company after the up-gradation will be one of the few US FDA plants available for outsourced contract manufacturing in India for formulations, the company stated.
Further the company has informed that the Board of Directors has also approved the manufacture of products to World Foundation Organisation, Florida, US.
The business holds vast potential for the company covering over 30 products including therapeutic categories such as arthritis, hypertension, cardiac and AIDS.
The company which was incorporated in the year 1991 has obtained US FDA approval for its manufacturing facility in 1995. The company which has earlier taken loans from financial institutions is getting debt free on December 24, 2005. With new products expected to be launched in the next financial year and through contract manufacturing, the company is hoping to clock Rs 20 crore plus turnover by the end of next financial year, the source said.