The Hyderabad-based Sai Advantium Pharma Ltd, one of the key players in the contract research and manufacturing (CRAMS) business in the country, is all set to commission its new research and development (R&D) facility in Hyderabad in another 10 months.
The new R&D facility is coming up in a special economic zone (SEZ) located in Hyderabad. The Hyderabad-based company is investing Rs 80 crore in the upcoming project, which is part of the company's plan to expand and upgrade its facilities. It would be dedicated for medicinal chemistry research and process development. It also is in the process of setting up a manufacturing facility in Vizakhapatnam.
Speaking to Pharmabiz, Krishna Kanumuri, chief operating officer of Sai Advantium Pharma Ltd, said, "We are in the process of setting up new facilities in Hyderabad and Vizag. The R&D facility coming up in Hyderabad will be dedicated for medicinal chemistry and process development, while the Vizag facility is for manufacturing. Our aim is to be one-stop-shop for all the services".
The manufacturing facility, coming up Vizag, will also be operational by the first quarter of next financial year. Krishna Kanumuri added that it would be a large manufacturing facility. However, he has refused to reveal details of the same. It is also planning to set up a research facility in the Patancheru SEZ, near Hyderabad. This facility would be developing in two phases.
Sai Advantium, with the turnover of US $25 million, is targeting 80 per cent growth in the current financial year. The company, which currently has staff strength of 750 professionals, is planning to increase the manpower to 1250 with the commissioning of the proposed facilities.
Recently, the US-based venture capital major, MPM Capital, has invested $20 million in Sai Advantium Pharma. Commenting on the benefits of the association with MPM capital, Kanumuri said that it would give access to Sai Advantium to the customers of the venture capital major.