The Ahmedabad based leading sterile liquid manufacturing company, Marck Biosciences Ltd is investing Rs 80 crore in the next three years for setting up new injectable formulation cum glass vial packaging facility at its existing manufacturing unit at Kheda in Gujarat. The construction work of the new facility will begin from July 2008 and it is expected that the commercial production will start from April 2009. The company is arranging funds from internal accruals and through banks.
The new facility will be set up as per the guideline applicable in the advanced countries. In the new facility, Marck will be manufacturing its existing ophthalmic injectables range of product for the regulated and semi regulated markets. Marck will be employing around 200 people for its new facility. The company has its formulation development centre at Kheda, which is spread over 20000 square feet area. It has adopted the modern and sophisticated Aseptic blow-fill-seal technology in the facility. Currently, its existing facility has a capacity of manufacturing 300 million units per annum.
Speaking to Pharmabiz, Bhavesh Patel, managing director, Marck Biosciences, said, "Last year, we have invested Rs 85 crore for the capacity expansion and also for strengthening our international as well as domestic presence. For the next three years, we have planned to invest Rs 80 crore in three phases. We are in the process of setting up new injectable formulation cum packaging facility at our existing manufacturing facility at Kheda. At present, we haven't finalised the capacity but we will be expanding it as seeing business opportunity from the market. We are in talks with SBI, IDBI, ICICI and Central Bank of India for the term loan and soon will be finalising it".
The company has its worldwide presence in more than 55 countries and continues expanding it. With the current product portfolio of 60 products it has 20 new products in the pipeline. Out of that its 7-8 products are designed for the regulated market. The company has planned to launch its product in this market in another 2-3 months.
During 2007-08, it has registered a total turnover of Rs 56 crore and targeting to touch Rs 100 crore in the current fiscal. Marck has earned Rs 15 crore from export revenue in the last financial year and from the current year it is hoping to touch Rs 30-35 crore.