The Gujarat-based Diya Pharma Company, the pharma manufacturing division of the packaging machines manufacturer Vedang Group of Companies, is setting up a state-of-the-art tablet and capsule production facility with an investment of Rs 100 crore with global standards to reach the US and Canadian drug market.

The company is in final stage of discussion with overseas investors including from United Kingdom for the investment in the new plant and plans are to complete the facility within next six months, according to Hetal Bhavsar, president, Diya Pharma. The new facility will exclusively produce drugs to cater the US and the Canadian market and the company will approach the drug regulators there for approval soon after the facility is ready, he added. The facility will be coming up in Shela, near Ahmedabad.

“Traders in these nations, who are in regular contact with us, have shown interest to import products from us. We decided to set up an exclusive facility to serve the needs of these countries, based on these queries. We are also planning to expand our operations in Middle East and Africa, along with this,” said Bhavsar.

He indicated that the plans are in tune to set up offices in Australia, South Africa, Kenya and Dubai. The initial works to set up office in Dubai is on and the other projects will follow the suit in a scheduled timeframe.

The focus of the company is to develop a network for export business in these countries within almost six months to take off the operations in a big way. The company, which has also commenced packaging materials recently, has aims to grow in multiple segments at a limited time period, he added.

Diya Pharma, which commenced its pharma manufacturing activities in February, 2009, is currently producing tablets, capsules and syrups through outsourcing purely for exports purposes. At present, the company is exporting its products to African and Middle East nations as per the requirement of the clients based in these countries.

By starting its own manufacturing facility the company targets to achieve Rs 12 to 15 crore turn over within the first few financial years. The activities of the company is supported by a team of domain experts in the pharmaceutical field who help in the supervision of each and every stage of the production process.

Besides, all the drugs manufactured under its responsibility are subjected to extensive and stringent tests on various parameters of physical and chemical formulations and the entire procedure of quality testing is attended to by a dedicated team of quality control managers and analytical chemists, informs Bhavsar.