The Mumbai based pharmaceutical company Maneesh Pharmaceuticals Limited (MPL) is investing Rs 214 crore for setting up a new manufacturing facility as per the US FDA standard at Himachal Pradesh (HP). The new facility, scheduled to be commissioned by April 2008, will be manufacturing multi therapeutic range products.
MPL has entered into the OTC segment last year by acquiring the marketing and distribution rights of Smyle range of products. The innovative marketing strategy that was adopted by company has resulted in phenomenal growth of Smyle range of products along with other products that are launched by Maneesh Pharmaceuticals under the division, Svizera Health Remedies.
The company has a focus on quality manufacturing products in various therapeutic categories such as anti-TB, anti malarial, antibiotics, pain management, infertility and gynaecology. The global TB drug facility of WHO has identified "Svizera" as a reliable source for providing fixed dose combinations for their International TB programmes in more than 70 countries. MPL specializes in the manufacturing of Hormones at Meghdoot chemicals Ltd, a facility approved by GSK PLC in UK. The company has a strong innovative culture and diverse capabilities of development and manufacturing.
Speaking to Pharmabiz, Gauri Sapte, director - business development, said, "We are continuously making investment in manufacturing and R&D area. In our Himachal Pradesh facility, we will be manufacturing multi therapeutic products, but our major attention is towards cephalosporin and antibiotic segment. Currently, we are offering around 300 products and by the end of 2008, we will be able to offer 50 more products from our various divisions of Maneesh Pharmaceuticals".
The company has grown strategically over the period of last two years, by multiple acquisitions and joint ventures. With the growth rate of more then 50 per cent, it has achieved Rs 600 crore during 2006-07 and willing to touch Rs 800 crore in the next financial year.
Till now the company has received 2 new drug development applications (ANDAs) and more then 10 are in the pipeline. Recently, it has commissioned its new R&D centre at Mumbai and it is continuously investing on new drug development and formulation segment. With the help of Mumbai facility it has introduced soft gelatine capsules and dermatology products into the domestic market. It has also set up new beta-lectum line in its existing facility at Mumbai. The company has also expanded its Hyderabad facility for the manufacturing of OTC range products and oral contraceptive pills.