Ipca Laboratories Ltd, a Mumbai-based Rs 900 crore pharmaceutical company, is on an expansion mode and has earmarked Rs 75 crore for setting up two new API manufacturing facilities and laboratories at research and development centre in Ratlam, Madhya Pradesh. The expansion is expected to be completed by the end of November 2007.
Speaking to Pharmabiz, A K Jain, executive director, said, "We have a drawn a detailed plan of expansion for the next two years. Currently, we are investing Rs 70 crore for setting up two new API facilities. Simultaneously, we are investing Rs five crore for setting up additional lab at our research and development centre. Our new API facility will mainly focus on the hydrocloroquinsulfate and metformin for the anti-malaria and anti-diabetic segment. Every year we are producing 10-12 new APIs for the domestic market".
The company has overall strength of 5,000 employees. Among them 1000 people are working in the API manufacturing facility at Ratlam. The company has almost 250 scientists in its research and development centre in MP. The company is in continuous process to recruit more people at its API manufacturing facility and R&D centre.
Recently, Ipca had made a strategic alliance with Ranbaxy Pharmaceuticals Inc. (Ranbaxy) based in Jacksonville, Florida (USA), a wholly owned subsidiary of Ranbaxy Laboratories Ltd. (RLL), for manufacturing and marketing metformin HCL tablets in the US. Total annual market sales for metformin HCL tablets in US were US$ 379 millions. This is the fifth such product approval received under the alliance from US FDA.
During the year its API and intermediate business recorded a growth of 14 per cent to Rs 281.90 crore. Nearly 75 per cent of the API and intermediate business is coming from export. In the last financial year, the company has commissioned its new manufacturing unit at Baddi. During the year, the company has commercialised its nine APIs for domestic and international markets.
The company has also initiated Drug Master Files (DMF) registration activities. Currently, company has filed 23 DMFs and around 31 DMFs are in the pipeline for the US FDA. It has also received certificate of suitability (COS) for the 12 APIs from the European Directorate for Quality Medicines (EDQM) for the EU countries.