The Hyderabad-based Sipra Labs Ltd, a leading clinical research organisation (CRO), is all set to offer phase I trials to the domestic as well as international pharmaceutical companies, it is learnt.
The company, which opened its new facility Hyderabad in April this year, has a 12 bed capacity in its new facility to offer phase I studies. The new facility of the company has a total capacity of 132 beds, with the capacity to feature additional 132 beds, if required. However, sources said, it does not have Phase I projects. Recently Sipra Labs has signed agreements with two overseas companies to provide various services, one from Canada and another from Spain.
Speaking to Pharmabiz, Dr V Satyanarayana, managing director, Sipra Labs Ltd, said, "We have opened our new facility in Hyderabad in last April, which will cater mainly the multinational companies. Our aim is to become a one-stop-solution provider for all the pharmaceutical research services to the domestic as well as international companies. In the recent past we have signed agreements with two overseas companies" however, he has refused to reveal more on the same.
It is also learnt that the company, which currently has more than 10 overseas clients, is in discussions with a few more companies to provide clinical trail services. Discussions with these companies are in different stages of progress and agreements are expected reach in a few months.
The company, which currently generates 20 per cent of its revenue from export market, is expected to draw 40 per cent of its revenue from export with the signing of agreements with a few more companies. According to the company, the new facility will cater to the international market and the present facility will focus on the domestic needs. Its new facility is in compliance with the international standards. The company said that its Sipra Labs is aiming to become a Rs 100 crore company in another four years. It is also looking to increase the manpower strength by adding 150 people in another 12 months. Sipra lab, which currently offers bio-availability (BA), bio-equivalence (BE) and phase II to phase IV trials, has the US FDA approval and will go for GLP (good laboratory practice) in the future.