The Mumbai based Coral Laboratories Ltd is commissioning its Rs 25 crore phase II of expansion programme for manufacturing Beta-Lactum at Selaqui in Uttaranchal by August end. The company's new plant is having manufacturing activities beside injectables.
Talking to Pharmabiz, Ramamurthy, director, Coral Laboratories, said, "Our phase II Beta-Lactum plant is ready for commission now. The project was delayed by five months with change in state government during the last election. We have gone through all inspections, which were carried out by new state government. Our Uttaranchal manufacturing facility is prepared to obtain US FDA and UK MHRA approvals. "
The new plant has a wide range of products in key therapeutic segments such as, anti-biotic, antacid, anti-asthmatic, cough expectorant, anti-bacterial, anti-Ulcer, anathematic, cardiac medicines, vitamin supplement, anti-spasmodic, anti-protozual, tropical preparations, iron supplement, analgesic, anti-amoebic, herbal medicine, anti-inflammatory, antipyretic and cough suppressant. Presently, the company is also undertaking jobs on third party basis and exports to various parties.
The company's state-of-the-art manufacturing facilities meet the stringent and over flexible quality requirements. Corel is a global player and its products are available around ten countries including Sri Lanka, Nigeria, Kenya, Vietnam, etc. The company's products are also under registration in more than 30 countries.
During the quarter ended June 2007 company has achieved better overall performance. Its net sales increased by 40.5 per cent to Rs 9.70 crore from Rs 6.90 crore. The company's net profit also went up by 17.8 per cent to Rs 2.12 crore from Rs 1.80 crore.