Plethico Pharmaceuticals, an Indore based pharmaceutical company engaged in producing herbal and nutraceutical products, is set to commission its Rs 27 crore Kalaria plant, in Madhya Pradesh, in September this year. This UK-MHRA approved plant will be manufacturing cephalosporin formulations for the European market.
Talking to Pharmabiz, Shashikant Patel, chairman and managing director of Plethico said, "The company has already launched Khalog, a product in different flavours, for the overseas market and several new products are in pipeline. We have established a new product development division for launching new products."
The company is investing around Rs 30 crore for setting up new plant at Jammu. The company is focusing more on herbal products and revenues from these products will contribute around 50 per cent of the turnover, he said.
Initially the company is exploring the international market for its products and looking at seed marketing. Once the company establishes its products then, it will enter marketing tie-ups with international majors.
Currently, Plethico offers custom manufacturing services to Ranbaxy Laboratories, Nicholas Piramal, IPCA Laboratories and Ajanta Pharma. The company is undertaking custom manufacturing services for companies like Kuwait and Saudi Pharmaceuticals Ltd, a company in Kuwait, and one leading player in Malaysia. Plethico is exporting its products to more than 45 countries.