The Chennai-based Grandix Pharmaceuticals Ltd. plans massive expansion in marketing and R&D, which include launch of 12 products within the financial year 2006-'07, apart from plans to submit 9 ANDA products before April 2007.
The R&D expansion programs, with an investment of Rs 2 crore, has been commenced with the projects on formulation research, focusing the regulated market, in the existing unit of 7,000 sq. ft. by January 2006. Plans are to commence primary drug research on plant materials, focusing on Ayurveda, Siddha and Unani methods. The company focuses into research on cardiovascular and neuro segments in its research facility.
A range of 12 new products including the fourth generation Cephalosporins, anti-viral drugs and Neuro related drugs would be introduced in the market in four phases. The first set of four products will be launched within the first three months of the financial year, according to the company officials.
Grandix has almost finalized a joint venture with a US company and this JV will be filing 9 ANDA products this year. The company has already submitted ANDA for metformin extended release in tie up with another US company, in April 2006.
"Our expansion plans target on the number of products comes out of patent by 2008. We want to be the fore-runner in marketing these products in the regulated market within a short period," Dr A Ramamurthy, Managing Director, Grandix Pharmaceuticals Ltd. told Pharmabiz.
He said that the company is investing Rs 7 crore in expanding its marketing network and product presence to reach new markets. The expansion is planned to be executed in three phases. The north region of the country including Punjab, Chandigarh, Haryana and New Delhi will be covered under the first phase. Maharashtra, Gujarat and West Bengal will come under second phase while Rajasthan, Bihar, Uttar Pradesh and the North West region will be covered under third phase, within the financial year.
The company is trying to get registered in most of the European countries and is currently planning to commence export to Ukraine, Australia and Brazil. The registration process has just completed in Nigeria, Philippines, Srilanka and Malaysia, where the company will commence export activities soon.
The Rs 37-crore company sets its turnover targets at Rs 100 crore for this year, expecting its marketing expansion activities to contribute Rs 60 crore, new operations to generate Rs 20 crore and manufacturing and exports Rs 10 crore.