Unimark Remedies is undertaking a $40 million investment programme which involves an expansion of its product lines to help to strengthen its position in the active pharmaceutical ingredients (API) market. The International Finance Corporation (IFC) has proposed an equity investment of up to the equivalent of $9 million and a loan of up to $9 million.

The company has two state of the art manufacturing facilities at Vapi and Ahmedabad in Gujarat. The investment program includes expansions at both facilities. The Ahmedabad facility is dedicated to the production of Cephalosporins and it also serves as the headquarters for the company's research and development activities.

The total area of the Vapi facility is 20,073 square meters, while the total area of the Ahmedabad facility is 88,977 square meters. The company has its headquarters in Mumbai.

Unimark is a medium-sized Indian pharmaceuticals company that is primarily engaged in manufacturing Active Pharmaceutical Ingredients (API or bulk drugs) and Advanced Intermediates. The company currently has over 600 customers, including a number of leading pharmaceutical companies like Ranbaxy, Cipla, Dr Reddys and Aventis and about 42 per cent of its revenues are derived from exports.

Its product range includes antibiotics, anti-hypertensive cardiovascular, anti-anthelmentics (used to combat parasitic worms), anti-bacterial, anti-inflammatory, opioids (type of sedative) and decongestants. For the year ended March 31, 2006, Unimark recorded earnings of $5.6 million on net sales of $68 million.