The Goa-based Wallace Pharmaceuticals is taking up several strategic initiatives as part of its expansion and diversification programme. The company is pursuing expansion of pharma manufacturing capacity in Himachal Pradesh, establishing a new division, 'Wallace Lifestyles', which will focus on specialty drugs in areas such as cardio-vascular, diabetes and rheumatology, a top official in Wallace Group told Pharmabiz.
In domestic formulation business, the company is focusing on the high-growth therapeutic areas like chronic and lifestyle diseases. It is finalising plans for building new plants to serve future growth areas like API's and international markets. It is also keenly looking at investing in various research initiatives.
In the international front, the company is expanding its biological contract manufacturing though its US subsidiary and exporting formulations to South American and South African markets, the source said.
Wallace is also rapidly emerging as a fast growing healthcare solution provider in the international arena. It is developing and manufacturing formulations in the antibiotic, anti-infective, pain and inflammation, topical antibiotics, antiacne, paediatrics, dermatology and diabetic segments.