The Mumbai-based USV Ltd is all set to strengthen its revenue from biotechnology sector by launching five or six human growth recombinant drugs in India by the first quarter of 2007. The company has earmarked around Rs 100 crore as part of expanding its growth in the biotech segment.
Speaking to Pharmabiz, Prashant Tewari, managing director, USV said, "The clinical trials are at the initial stage for the recombinant drugs but we hope to launch at least five to six drugs by the first quarter of next year. Although the drugs are from varied segment, mainly they belong to the diabetes and anti-cancer segment. We may out-license the anti-cancer drugs to domestic companies having a key role in anti-cancer drug marketing, the anti-cancer segment not being our strong hold."
At the initial stage, we are planning to manufacture the drugs at our Turbhe facility. Later, the manufacturing will be shifted to our Roha facility, which will be commissioned soon, he added.
The Rs 500-crore company is setting up a facility for the manufacture of recombinant products at an estimated cost of Rs 75 crore at Roha in Maharashtra. Recombinant products like human insulin analogues, growth hormones and CVS products will be manufactured in the facility. The initial capacity targeted for the commercial production is between 1,000 -10,000 litres. USV has already achieved pilot scale efficiency in the development of these recombinant products.
Earlier, Pharmabiz had reported that USV plans to enter the US and European generics market by submitting abbreviated new drug applications (ANDA) in various segments by the mid 2006.
The company has a turnover of Rs 500.4 crore (USD 114 million) in the financial year ended March '05. Domestic sales contribute 67 per cent of the company's business and the rest is from exports of APIs and branded generics to various countries. USV's plants have been approved by the US FDA and TGA Australia.
USV Ltd is a major player in the diabetes and cardiology segments. It markets 32 brands in these segments that contribute to 52 per cent of its turnover. USV, top ranked in diabetes care in India, has entered into an agreement with B Braun, a $ 2.3 billion German healthcare company, for marketing of blood glucose monitoring system known as Quicktest - U.