Buoyed by the developments in the lifesciences research and development space, Waters India, which is driving the growth in the proteomics and genomics space with its range of analytical instrumentation, has now gone in for a Rs.10 crore expansion plan. Funds have been sourced through internal accruals.
The new facilities include expansion of its existing lab and training centre in the Waters campus at Peenya Industrial Area, Bengaluru. “We had gone in for a similar investment in 2010-11 and now we were forced to go in for another round of expansion because of the ongoing commitment for additional infrastructure and delivery of service to customers,” KV Venugopalan, president, Waters India and president, Indian Analytical Instruments Association (IAIA) told Pharmabiz on the sidelines of the Waters’ St. John’s Centre for Innovation event.
The analytical instrument industry across global markets including India, which had been registering double digit growth, has seen a dip. But it is no longer alarming as currency exchange rate is stabilizing. There are efforts by the governments of every country to ensure growth is back on track. Moreover, sectors like pharmaceuticals and healthcare, which are viewed to be resistant to recession, have reported no de-growth so far, he added.
In fact, the subdued economic environment has been an opportunity for companies like Waters Corporation and its India subsidiary to scout for acquisitions. We are on the lookout for companies with a similar strategic fit. Now with these expansion plans, we would also look to increase the manpower which is currently 260 personnel. However, for the present it would be difficult to put a percentage to the headcount increase, he said.
For 2013, the action plan for Waters is not just to consolidate its business but identify opportunities in proteomics and structural biology where its five instrument platforms for separations science, laboratory information management, mass spectrometry, thermal analysis systems and chemistries can offer the solutions in research. An initiative since 2010 has been the Waters Centre for Innovation Program which recognizes studies in advanced chemistry and biology, genomics and proteomics allowing the company to sustain its growth momentum with lab instruments, the Waters India chief said.
Recently Waters recognised the research in structural proteomics by the lab of Dr Amit Kumar Mandal of the St. John’s National Academy of Health Sciences which has been engaged in identifying clinical important molecules to suppress diseases. Such partnerships with leading institutions will now only expand the horizons of product development, said Venugopalan.