The Baroda based Comed Chemicals Ltd, manufacturer of formulations and empty hard gelatine capsules, is planning to enter alliance with three leading global pharmaceutical companies in areas of pain management and antibiotics.
It is learnt that Comed Chemicals is in the first round of discussions with these overseas firms and is expected to reach an agreement shortly. The alliance would enable both parties to make a quantum jump and set strong foothold for the company in national as well as international market. However, the company has refused to reveal more on the same.
Commenting on the company's future prospects, J S Sethi, managing director of Comed Chemicals, said, "Comed has a very clear vision for the future, to achieve new horizons as a front-runner in the Indian pharmaceutical industry by remaining focused on selected therapeutic segments and emerge as a large multidimensional company and big plans to be among top 50 companies of India by the end of 2008".
Comed, which has launched a range of innovative skincare products through one of its divisions, is planning to enter the skin care range of product in a very big way in order to accelerate the tempo of its growth. The dynamism of the skin care market offers attractive potential and tremendous opportunity for building critical mass with matching operating margin. A vigilant marketing process has made it possible for Comed to select the right kind of skin care products to suit its marketing needs and expertise and some of the skin specialty will be among the first one to hit the market.
Comed Biotech Ltd, the latest addition of Comed, has set up a state-of-the-art R&D centre at Baroda with facilities such as formulation development, analytical development, bio-chemical, pharmacological, molecular and immunological screening facilities. It has also signed an agreement with a US firm to conduct vitro and vivo trials for many of their new molecules. The company has been geared up to conduct toxicology study for many of their leading brands, looking to combat the threat of FDC.
The company, which commissioned its third manufacturing facility at Baddi this year, is also planning to focus in ophthalmology and nutraceuticals in the near future. The plant has been built as per the norms of US FDA, company official added.