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Aanjaneya Lifecare raises Rs.117-cr via IPO for infrastructure expansion

Nandita Vijay, BangaloreSaturday, September 3, 2011, 08:00 Hrs  [IST]

Aanjaneya Lifecare Limited, an Active Pharmaceutical Ingredient (API) and finished dose formulation major, has raised around Rs.117 crore through an Initial Public Offer (IPO) recently to chalk out its next growth path.
The funds are being used to build new facilities along with the refurbishing of its research & development centre. The company is also looking at growth via organic and inorganic paths where it will be able to foray on the fast growth path.
The new facilities being created as part of capital expenditure will utilize eco-friendly, recyclable material and will be rated by LEEDS after it is completed. The units will comply with current EU and US regulatory guidelines. This will be added within 6 to 9 months. This will see the company expanding operations in the Emerging Markets of South East Asia, Africa & South & Central America.
“We are spending close to Rs.90 crore towards adding up new API facilities. Some of the new blocks will include facility for anti cancer and high potency molecules, a GMP block for manufacturing controlled substances, an Intermediate plant to manufacture advanced intermediates, an R&D block for API, a formulation development block for developing new fixed dose formulations, a new block for quality control & quality assurance. More than 60 per cent of work is completed and we expect to commission the entire expansion by February 2012,” Dr Kannan Vishwanath, chairman, Aanjaneya Lifecare Ltd. told Pharmabiz in an email interaction.
The five-year-old company holds a leadership status as the largest manufacturer of quinine salts globally. It is therefore looking to consolidate its position in anti-malarial segment. Plans are underway to look at acquiring potential brands which could gel with its existing product line in anti pyretic and pain management segment. The company is also looking to buyout business which will provide it an entry into segments like central nervous system (CNS), macrolied, retroviral drugs where it has small presence now. We are looking at potential acquisitions in Europe & US of brands or business, Dr Vishwanath said.
The present product portfolio consists of second generation, quinine based anti malarial APIs and third generation artemisinin based anti malarial APIs, niche API’s and FDFs. The company is also focusing on niche branded generics segment through its range of products like Rankorex, Anjitil, Livcheck, DRQURE, PROSILS, ESYHIL amongst others in various therapeutic segments across 5 dosage forms including syrups, gels, tablets & lozenges.
It is also one of the largest contract manufacturers of codeine based cough syrups in India.
Currently the company exports its products to 15 countries and registration of the formulations is under progress in about 30 other countries.

 
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