The Hyderabad-based drug intermediate company Anu's Laboratories Ltd is setting up a new manufacturing facility for active pharmaceutical ingredients (API) at Pharma City, Vishakhapattnam in Andhra Pradesh. The company will be investing close to Rs 65 crore. The construction work for the new facility is on stream and the new facility is likely to be commissioned by the end of current financial year.
The company has its manufacturing plant in Shadnagar and research and development centre in Balanagar which is located at the outskirts of Hyderabad. In the new facility, the company will be manufacturing five to six products for various therapeutic segments. Currently, its four more products are in the pipeline, which is expected to be commercialised in another six months time.
Speaking to Pharmabiz, K Hari Babu, managing director, said, "We are in the expansion mode. Recently, we have invested Rs 20 crore for the capacity expansion of our major product dichloro fluoro acetophenone (DCFA) from 125 tons to 165 tons per month. We are intending to go for contract manufacturing of intermediates into the APIs form for our existing customers. So, we are in the process to set up new API manufacturing facility at Pharma city. In our new facility, we will be producing six products for vasodilator, broad spectrum, diagnosing agent, anti allergic and analgesic therapeutic segments".
The company is planning to employ 25 scientists and 150 people at its new facility. At present in its existing facility, it has overall 150 workforce for manufacturing as well in the research and development centre. The company has its presence in Europe, Israel, Japan, Singapore and US. Currently, it caters its services to more than 22 customers worldwide. Out of this, 15 are domestic and remaining are MNCs. It is in talks with 6-7 major pharma companies from both the domestic and international markets and results are expected very soon.
It has two intermediates in the pipeline namely, iopamidol and DL naproxen for diagnosing agent and analgesic therapeutic segment respectively. Its first product was astrophenom, a drug intermediary, which stands as major product in the production of DCFA. Its 60 per cent market share comes from DCFA. The company has developed a zero discharged process by recovering by products of commercial values from waste water and project is implemented in most sphere of operational. Its 40 per cent investments are made into the projects for recovery of effluents treatment.
With the growth rate of 40 per cent, it has achieved Rs 160 crore turnovers during 2007-08 and expecting to reach up to Rs 200 crore in the current fiscal.
Commenting on the listing of the company, M Ajay Kumar, chairman, said, "We have already filed application with the SEBI and we will be coming up with our IPO in another 2-3 months' time".