The Mumbai based pharmaceutical company Mission Pharmaceutical, is setting up its new manufacturing unit for soft gelatine capsule at Indore through a joint venture. The JV deal was finalised with the Medgel Pharmaceutical Ltd. The new facility will be beginning its operation from September 2008.

The company is building up new facility with the cGMP compliance. It has fully equipped and highly automated quality control laboratory. The company is having facilities for the chemical, analytical and microbiological testing with most modern testing instruments like HPLC, GC and FTIR. The company has the capacity to produce 500 crore Pharmaceutical and Nutraceutical range of products per annum. Beside this, its new facility can produce 300 crore soft gelatine capsules per annum.

Speaking to Pharmabiz, Akkshay Mehta, managing director, said, "We are setting up new manufacturing unit for soft gelatine capsules under the 50-50 per cent JV. Initially, we are investing Rs 20 crore and the construction work of the new facility will start from December 2007. We are strong in pain management and anti bacterial therapeutic segment. Nearly 30 percent business comes from anti bacterial and 25 per cent from pain management segment. In the current year we are able to touch turnover Rs 115 crore and same will reach Rs 300 crore by 2009. With the current manpower strength of 400, we will be doubling the existing manpower by the end of next year".

The company has a 100 per cent export oriented manufacturing facility and is exporting a wide range of formulations in different therapeutic segments. The company has a state-of-the-art GMP approved manufacturing facility in Gujarat. All processes at Mission are monitored by ERP Software and backed by ISO Systems. Its products are exported to more than 130 countries in Asia, Africa and South America. Mission has a strong product portfolio in the OTC and lifestyle products segment with a growing emphasis on their Nutraceutical brands. The company is seeking to expand their markets to the CIS region, USA and Europe with the commissioning of new facility.

Talking about inorganic growth Mehta, said, "We are looking out for more joint venture and acquisition activity from both the market and it is expected very soon. We also have plans to get listed in some time of next year".