The Mumbai-based Lifeline Industries Ltd, manufacturers of active pharmaceutical ingredients (APIs), intermediates and finished dosage forms, is planning to upgrade its eight production facilities in accordance with the standards of the most regulated markets.
The company, which has four API plants, three intermediates manufacturing units and a formulation unit in Maharashtra and Karnataka, will infuse USD 50 million for the upgradation of these manufacturing facilities in the next three years, according to Vinod Chitalia, chief executive officer, Lifeline Industries Ltd.
"Currently we have our presence in anti asthmatics, anti-fungal and cardiac therapeutic segments. Our vision is to become a major player in these categories and complying the most stringent regulatory standards will give us the advantage in the competitive markets," said Chitalia. The company's manufacturing unit at Mahad for manufacturing APIs and intermediates has approval from the European Directorate for the Quality of Medicines (EDQM).
Lifeline also have a manufacturing facility for disposable medical devices at Tarapore and a finished dosage forms manufacturing plant at Vasai in Maharashtra. The company is also finalising acquisition of an API manufacturing plant in India, which would be materialised within a few months. As part of expansion of its international operations, the company is identifying manufacturing plants in Asia and Europe. However, he refused to reveal more on the acquisitions as the plans are in initial stage.
Besides, the company is carrying out nearly six projects in its R&D laboratory to develop drugs in the pain management, gynaecology and orthopaedic segments. "We are planning to focus in these segments to gain strength in drug discovery and development sector. One of our novel products, to tackle anaemic condition by improving haemoglobin content in human blood without iron as an ingredient is in the final stage of human trials. The clinical trial is expected to be completed in next four months and we would launch the product in India probably in the end of current financial year," averred Chitalia. The anti anaemic drug market in India is recorded at Rs 2500 crore, he informed.
The Rs 300 crore Lifeline Industries has set a turnover target of Rs 1000 crore within two years, when the current projects get operational. The staff strength will increase from the current 1200 to 1600 with the expansion plans completed. The company is also in talks with some of the multinational companies for out licensing some of its molecules and conducting contract research and manufacturing services through its manufacturing plants. The company has also recently signed a pact with Biocon Limited for intermediates supply, added Chitalia.