Syschem India Ltd has decided to enter into the pharmaceutical business. The company will manufacture and market pharmaceutical products in India.
Anil Nibber, MD of the company said, that looking at the changed business scenario and the booming pharmaceutical industry, which is growing at a steady pace, the company has decided to enter pharmaceutical business with the launch of its own Active Pharmaceutical Ingredients (APIs) and intermediates.
The company has lined up 3 new molecules from the leading therapeutic categories, which will be manufactured at the company's manufacturing facilities. The marketing of these APIs would be done to the leading pharmaceutical companies for which the company is already having talks with few of these companies for supply of its products.
Besides this the company also plans to increase the manufacturing capacities to meet the increased demand for its products. The company is looking for raising funds through FDI route or domestic funding to raise a sum of USD 5 million, which would help company to become a totally pharmaceutical oriented company.
R&D has been the key focus area of the company (focused on developing new drugs and non infringing processes) where the company has invested substantial part of its revenues. The company has strong process chemistry skills, which helps it develop cost effective and complex processes for various APIs and intermediates. The company has dedicated itself to creating innovative medicines that will be truly beneficial to the patients.
Besides development of new molecules, company has substantially increased its revenues from contract manufacturing. It has tied tip with leading pharmaceutical companies for contract manufacturing of advanced intermediates for them. The few of the major clients includes Ind-Swift Laboratories Ltd, Ranbaxy Laboratories Ltd, Essix Biosciences Ltd, Morepen Laboratories Ltd and Unimark Remedies Ltd.
The company has become one of the leading CMO (Contract Manufacturing Organization) of this region and now with all the major pharma companies coming to Baddi and the company's proximity to the Baddi region, it expects the demand for contract manufacturing, APIs to rise sharply.