The Chennai based Bafna Pharmaceuticals Pvt Ltd. has launched its non-betalactum facility in a new plant at Grant Lyon village near RedHills in Chennai, eyeing the UK market.
The plant with a production capacity of one million capsules and 2.5 million tablets per shift, is the first move of the company's strategy to enter into the regulated market.
Works for a betalactum plant at an investment of Rs 20 crore, in the same premises will commence within a month and will be completed within 14 months, informed Mahaveer Bafna, Managing Director of Bafna Pharmaceuticals.
He added that the company is aiming to touch Rs 300 crore turn over within the next four months, and has drawn up a plan to be a global player by the year 2008. As Pharmabiz reported earlier, the new plant, at a built up area of 60,000 sq.ft in a 3.65-acre premise, with an outlay of around Rs 45 crore for the non-betalactum and betalactum facilities is envisaged to win MHRA approval within six months from commencement. The first phase, comprising the non-betalactum plant has been completed with an investment of Rs 25 crore.
The plant has been inaugurated by Tamil Nadu Governor Surjit Singh Barnala. The company has plans to proceed for a US FDA approval in the second stage after the operations launched at Europe. The company has recently attained export oriented unit (EOU) permission and has commenced export to Ukraine in April 2006.