The Mumbai based pharma company, Sharon Bio Medicine has just commissioned its Oral Solid Dosage facility and is setting up an injectable plant at the cost of Rs 17crore in its existing facility at Dehradun, Uttaranchal. Sharon is also investing Rs 77 crore in 2 new API plants with one focussing on Cytotoxics and along with this API plant an additional injectable plant for the Cytotoxics, which is expected to go on stream by July 2008. Further the company has finalized the investment of Rs 20 crore for R&D activities.
The company has been manufacturing API's and Intermediates and has filed its DMFs in Brazil, Ukaraine, and got itself approved as the Vendor in the Intermediates from leading companies. The company has major focus on therapeutic area such as Cardiovascular, Anti Fungal, Hyper and Hypoglycaemics. The company is presently in the non-regulated market and exports to South East Asia, Middle East and Latin America. It however has its exports for the Intermediates to Europe and US.
The company has already invested Rs 32 crore at Dehradun in Uttarakhand for Contract Manufacturing for the regulated markets. The Dehradun Plant is producing one billion tablets, 750 million capsules and it will have two lines for injectable from the future expansion. It has 20 - 25 products in its portfolio, and is planning to add another 30 products. The company is already registering the dossiers in the different countries. The company expects to trigger of the UK MHRA by October and the US FDA by mid next year.
The Company's sales moved up by 11 per cent during the quarter ended 2006 as compare to similar period. The reason being the company has introduced more products in the market as well as has started getting the products manufactured on job work in different locations thereby increasing the market share in the existing products and thus has been able to launch new products, all ultimately is leading to increase in the sales.
The company's sales has taken a quantum jump of 134 per cent to Rs 89.11 crore from Rs 36.90 crore in the last financial fiscal. Similarly, its net profit went up sharply by over 500 per cent to Rs 10.72 crore from Rs 1.73 crore.
Sharon has a two tier marketing strategy wherein it would focus mainly on both direct sales and contract manufacturing of intermediates and API's as the lower tier and purely Contract Manufacturing at the upper tier for Formulation.
Sharon is a vertically integrated company having the Intermediates, API and the finished dosage form for the customer. In short a few years Sharon look's at building a fully integrated pharmaceutical company.