The Mumbai based Ipca Laboratories is planning to set up a formulation facility in Sikkim. The company plans to invest Rs 20 crore for the project and it should be ready for commissioning during 2009-10.
IPCA currently has seven modern manufacturing facilities in places like Ratlam, Indore, Aurangabad, Kandla , Dehradun, Athal and Silvassa. Its Athal facility has conformed to WHO cGMP standards and is now planning to go for the US FDA approval. Most of its other facilities are inspected by leading international regulatory bodies of Australia, Canada, Europe, New Zealand, South Africa, and UK and have been cleared for manufacturing products for those countries.
Speaking to Pharmabiz, Premchand Godha, managing director, said, "With initial investment of Rs 20 crore, we are planning to set up new unit in Sikkim for the domestic market. Recently, we have finalised the land deal and very soon we will be starting the construction activity. We are building up this facility as per the Schedule M norms. In this facility we will be manufacturing tablets, capsules and injectables. Till now we haven't decided the production capacity but very soon we will be finalising it".
The company has a total staff strength of over 5500. This includes over 2200 field staff and over 270 technical staff working in various departments. The company is planning to add 300 to 400 more workforce in its facilities by the end of next financial year. It has an intellectual property management group to deal with management of IP related matters. Till now company has filed over 153 patent applications in India, USA and other countries out of which 23 patents including one in USA are granted.
Recently, it has signed agreements with two biotech companies, namely, Bio- Genomics Ltd from Chennai and Navya Biologicals, Bangalore for the development of new bio similar drugs to launch in the domestic market.
Ipca has leadership in the anti-malarial and rheumatology and has significant presence in life style, cardiac and diabetic segments. With the growth rate of 20 percent, it has achieved Rs 920 crore annual turnover in the last fiscal and is expected to cross Rs 1000 crore in the current year.