The Hyderabad-based Cheminova Remedies Pvt Ltd (CRPL), one of the leading contract manufacturers in India, is all set to launch its first in-house developed product Dextromethorphan extended release cough syrup in the domestic market.


The company will launch the cough suppressant in Indian market which will be priced at between Rs.80 and Rs.90 for a 100-ml bottle. According to the company, it is the first Contract Research And Manufacturing Services (CRAMS) unit in the country to offer sustained release liquid preparation. The company, with a turnover of Rs.93 crore, is hoping to generate over Rs.100 crore in the first year of its launch.


Addressing the reporters while unveiling the cough syrup, M Vasudev Rao, managing director of the company, said, “We are expecting to capture nearly eight per cent of the over Rs.1850 crore per annum cough syrups market with the product.” The company is also in discussions with three to four MNCs to contract manufacture the syrup that can then be marked by them under their own brands.


The company is also working on a mosquito patch that emits an odour to repel mosquitoes. This odour is recognised only by mosquitoes and will not have any side effects on the human skin, the company added.


According to the company, it is in discussions to raise Rs.120-150 crore through Private Equity (PE) funding in the current year and the money will be used to transform itself into an innovator pharma company.


The company has half a dozen products in the pain management, anti-allergic and cough and cold segments on the extended release platform under pipeline.


The company, with manufacturing facilities located at Balnagar and Bollaram in Hyderabad and Baddi in Himachal Pradesh, is manufacturing oral preparations of all forms for companies such Dr Reddy's Laboratories, Dabur, Cipla, FDC, Ajantha Pharma, Pirmal, Abbott, Trucare and Alembic.