The Mumbai based Rs 325-crore plus leading pharmaceutical company Plethico Pharmaceutical Ltd is shifting its entire CRAMs and OTC business units to Sikkim with a total investment of Rs 20 crore. The new facility, located in this tax free state, will be operational by the year 2009. The company is undertaking the construction work from early 2008.
Talking to Pharmabiz, Sanjay Pai, CFO, said, "We are having robust business of CRAMs and OTC. We are shifting our entire CRAMs as well as OTC business to Sikkim, which will enable us to save excise and sales tax. We are also planning to shift partially our export business to the same facility. Sikkim unit will take care of our entire semi-regulated market business."
Contract manufacturing service has been a conscious for the Plethico's strategic business development and revenue stream. The company's fully automated production capacities, trained technical manpower and managerial acumen combined with regulatory certified state of the art manufacturing facilities provides the ideal environment for delivering high quality out sourced products.
The company has two most modern, fully integrated, state of the art, WHO-GMP certified units located in the state of Madhya Pradesh (MP) namely Manglia and Kenya. Both the plants are well equipped with the most modern and validated manufacturing and analytical equipment. It has been done to conform to the regulatory requirements of US FDA, UK-MHRA and cEU guidelines.
The company is presently working in the areas of effervescent products finger printed herbal extracts. A range of medicated centre filled lozenges, sustained release formulation, fast melt tablets and pelletization technology. Its research in herbal is being focused in the areas of formulation development, manufacturing, qualitative and quantitative analytical procedures and evaluation of clinical effectiveness and safety. The company's major focus areas are NDDS, pharmaceutical research, analytical research, clinical research and international regulatory affairs.
With over 400 different formulations in 39 therapeutic segments, Plethico has a strong presence in anti-malaria, anti-tubercular, anti-infective, pain, cardiac, gastro and cough & cold.
While talking about tie up, Pai, said, "Currently, we are in the talks with leading MNCs and we are confident that we will be able to conclude the tie-up in short time. The company is also planning to enter Germany through acquisition in the Herbal segment. This will help the company to strengthen the Herbal focus and also enable the marketing of herbal preparations in the advanced countries."