The Indian pharmaceutical industry has come a long way from its crude incipient days and established its mark in the global market with mergers, acquisitions, joint ventures, exports and low cost outsourcing and contract services. Taken up by the huge patient population, low cost environment and cGMP compliant facilities, many multinational and foreign pharma companies are planning to outsource their early stage clinical trials in India. It has paved way for the growth of contract research and manufacturing services (CRAMS) in the country. Interestingly, the growth of the pharmaceutical industry in India is the result of rise in CRAMS.
With the technical know- how and qualified manpower, India offers a myriad of services to the international pharma community, casting a spell on them with the efficacy with which it does a job. Though there are many leading companies in India, which offer services like contract manufacturing and research to the international pharma community, Shasun Chemicals and Drugs Ltd (SCDL) occupies a prominent place amongst them, thanks to the yeoman service the company renders to this field.
The Chennai-based Shasun Chemicals and Drugs Ltd was one of the first Indian companies to join hands with international companies instead of confronting them. The company's first molecule under such a partnership was ibuprofen with Boots Limited. The company also produces drugs like ranitidine and nizatidine for big pharma companies like GSK, Lily and Wyeth. Shasun's this policy of joining hands with innovator companies to avoid competition has helped it in a big way to reap profits at lowest risk. Inspired by this, many of the domestic companies are planning to adopt this model.
Over the years, the company's proactive investment in state-of-the-art cGMP facilities has enabled it to execute several projects, including APIs like cycloserine, metohexital and isradepine and advanced intermediates.
Posting a revenue of Rs 342.98 crore from CRAMS in the financial year 2007, Shasun has carved out a niche for itself in the realm of contract manufacturing. Propelled by the acquisition of Rhodia, the company's total revenue from CRAMS business was Rs 342.98 crore, up from Rs 37.53 crore in the previous year.