Two Kerala-based pharmaceutical companies, Sance Laboratories and Harvey Laboratories, have floated a joint venture company to start contract manufacturing and exports of ophthalmic and nasal drops. The JV has set up a new facility for the purpose at Thrissur. The new plant, Megasys Biotech Pvt Ltd, is expected to start commercial production in the beginning of financial year 2009-10.
The civil works for the new plat at KINFRA Small Industries Park (KSIP), Thrissur, in an area of 20,000 sq ft has commenced recently and the facility is expected to be operational by April 2009, informed the company officials. The plant would have tablet, capsule, eye and ear drops manufacturing facility and is expected to be an export oriented unit (EOU) along with contract manufacturing services.
"Our effort is to become the first and major pharmaceutical company based in Kerala. As of now, there is little presence of stake holders in the national pharmaceutical industry from Kerala and we are here to prove that the state has its potential in the drug manufacturing field," said Jaison George, managing director of Megasys Biotech and currently the managing director of Harvey Lab.
The new facility, coming up with an estimated investment of nearly Rs 4 crore, will have a capacity to manufacture 8 lakh tablets and capsules and 25000 doses of ophthalmic and nasal drops per shift. "Harvey already has a range of 80 products and the new venture would explore the opportunities in exports market for these products with the support of our partner," he added. Sance Laboratories, which has its focus on cephalosporin formulation manufacturing, has already established its presence in some of the southern African countries and East Asia. The new company is expected to sell nearly 70 to 100 products in domestic and international markets in next one year.
Once the company gets approval from the Indian regulatory officials, the plant will undergo US FDA regulatory filings and the JV is expected to handle contract manufacturing for ophthalmic and nasal drop products to cater the US market.
Megasys Biotech, the new company will focus on contract manufacturing, exports and in house manufacturing operations in the coming years and is expected to support the partner companies to expand its operations all over India. The Rs 15 crore Harvey Laboratories is currently planning to expand its market from Kerala and Karnataka to Andhra and Tamil Nadu as the part of its expansion plans in South India. The company will set up its marketing units in these two states within January 2009 and is expected to double its turnover within a year, speculates George.
Sance Laboratories, claimed as Kerala's first international standard pharmaceutical company in terms of infrastructural facilities, has products in Cephalosporin group of anti-bacterials in different dosage forms like dry powder injections, tablets, capsules and oral suspensions. The company, set up in 2002, has a manufacturing plant at Kottayam district, conforming to the norms of regulatory bodies like US FDA, TGA, MHRA, MCC, WHO and ANVISA, Manoj Joseph, managing director, Sance Laboratories said.