Ind Swift Ltd has started operation of its 100% Export Oriented unit. The 100% export oriented dosage forms manufacturing facility has come up in village Jawaharpur, near Derabassi in Patiala district of Punjab State.
The state of the art facility which has come up at total investment of Rs 350 million has all the latest machinery and equipments. In the first phase, the unit will have capacities to manufacture 750 Millions Tablets per annum and 4.5 millions Dry Syrups per annum.
The Company is planning for Oncology Section, Cephalosporins, Block, Beta lactum categories of the product range in the 2nd & 3rd phase. The new facility is built as per the FDA standards and will be inspected by TGA, MHRA & USFDA.
With the commissioning of this project, the Company will further strengthen its position in the Antibacterial, Anti diabetic, Cardlo Vascular, Hyperlipidemic, Antifungal Antihistamine, Antidepressant, Anti ulcers therapeutic segments, a company release stated.
"The new unit will facilitate our entry in the Export market. We target to achieve 20% of our revenues from export in the first year and 40% from exports in next three years," said V K Mehta, Director
With the setting up of this unit, the company is at an advanced stage of implementation of its expansion plans with an investment of Rs 1000 million.
The company another facility is coming up in Tax Exempted Zone, Baddi (HP) Post expansion the capacities are expected to increase by 2-3 folds, with an estimated 30-40% rise in the topline and bottomline of the company, added the release.
To further seize the opportunities the Company has recently purchased another 7 acres of land in the Tax free zone of Baddi for setting up a new formulation facility dedicated for manufacturing the Oncology, Cephalosporin's, Beta Lactum, Herbal & Neutraceutical products. The Facility when operational will be largest in terms of capacity in the north India.
The company has received its first US patent for "Controlled Release Macrolide Pharmaceutical Formulations" developed in-house by the Research and Development department of the company. The patent is for the controlled release dosage form of macrolide antibiotic drug to be taken once a day against the conventional dosage form, which is required to be taken twice a day. The Worldwide market of this drug is US$ 1.5 billion and the molecule goes off-patent in by the end of this month and its expected growth in volume terms would be more than 30%, said the release.
The cmpany has also been granted two process patents from Indian Patent Office. One patent is a new salt of the Erythromycin derivatives which is characterized by Advance Solubility and Stability for use in all its Dosage form and other is a process patent for a tasteless, directly compressible complex of Anti-Histamine drug and its use in pharmaceutical formulations.
The company is at an advanced stage of getting its products registrations in overseas markets. So far it has filed 48 dossiers in various Asian and European countries. The Company targets to achieve exports of 40% of the total turnover in the next 3 years.
Ind Swift has joined hands with the leading drug makers including Cipla, Lupin and USV for the marketing of the Anti-Diarroheal Drug Nitazoxanide, which is being launched by the Company for the first time in India after the successful Clinical trials in India. This is the first molecule approved by the FDA in last 40 years for Gardia and is the only drug approved for the treatment of Diarrhoea caused by Cryptosporidium parvum in children aged 12 month to 11 years of age, concluded the release.