Ajanta Pharma Ltd is planning a major expansion of its R&D division and the manufacturing facilities with a total investment of Rs 60 crore. The company is doubling its existing manufacturing capacity at Paithan, Maharashtra with an investment of Rs 35 crore. For upgrading its R&D facility another Rs 25 crore is going to be spent. The upgradation is expected to be completed by the mid of 2008.
Its R&D facility, Advent, has a team of 130 scientists with a well equipped laboratory. The gap identification for patients needs in the specialty segments. The company is planning to add 100 more scientists in its existing R&D centre.
The company has set up world class manufacturing facilities in two countries Mauritius and Turkmenistan apart from India. The plants have the capacity to handle a flexible product mix and ensure quick product changeovers. The company has the capability to manufacture various dosage forms like tablets, capsules, injections, ointments and powders.
The plants are designed to cater to the requirements of the various national and international regulatory bodies. The facilities have been audited and approved for compliance with international Current Good Manufacturing Practices (cGMP) as laid down by WHO.
Speaking to Pharmabiz, Yogesh Agarwal, executive director said, "We are upgrading our existing manufacturing and R&D unit with the total investment of Rs 60 crore. We are doubling our existing manufacturing capacity. At present our tablet manufacturing capacity is around six millions in a single shift after expansion it would be around 13 million. At present we are investing around one per cent total sales revenue for the R&D and willing to invest close to three per cent in the next three Years. Currently, we are working on oncology; gastrology and pain management and by the end of 2008 we will be able to introduce some products on above therapeutic area. We are in the process of tying up for contract research and manufacturing services with US companies. Our 1st ANDA filling is expected before March 2008. The ANDA filing will be accelerated in the coming years".
The company has consistent growth record and the total income during last five years at CAGR of 25 per cent and expecting same growth rate for the next two years.
During the year, Ajanta has taken a strategic stake in Gencrest ltd. The company has set up to develop innovative biotechnology based pharmaceuticals. Gencrest has tied up with a leading US university for technology transfer and is carrying out research in biotechnology field. Ajanta will get exclusive rights for marketing of products developed by Gencrest in India on mutually agreeable terms.