Hikal Ltd, a firm engaged in collaborative research and custom synthesis, is planning to set up a research facility at Pune with an investment of about Rs 20 crore. The research facility is likely to become operational by the end of year 2005.
“We have already acquired land for the research facility at Pune. In the first phase, we will pump in about Rs 15-20 crore. The project will be developed at Bio-tech Park, situated at the outskirts of Pune,” said Jai Hiremath, vice-chairman and managing director of Hikal.
The company aims to recruit about 100 researchers to take care of the company’s focus area: contract chemistry research. Hikal may invest more money in the short-term after the facility becomes operational.
“We want to get into the long-term research contract for the interested parties. With manufacturing and research facilities ready, Hikal would like to be known as a one-stop shop in the category we are functioning. At present we are focusing on pharmaceuticals, but in a later stage we will go for the development of specialties such as molecules development,” said Hiremath.
“The recently acquired Marsing, a Denmark-based pharmaceutical marketing and distribution company, will lead us in European markets,” added Hiremath. Hikal is mainly focusing on the contract manufacturing of pharmaceutical and agrochemical products. Hikal already has two R&D facilities for pharmaceutical and agrochemicals at Bangalore.
Hikal had acquired about 51 per cent stake in Marsing & Co for $6 million last year.
The company also aims to increase the share of revenue from pharmaceuticals sector. At present, about 65 per cent of Hikal’s revenue is coming from agrochemicals.
“At present, we have equal investments in agrochemicals and pharmaceuticals. With the upcoming changes the share of pharmaceuticals and agrochemical will become equal in next two to three years,” said Hiremath.
Hikal to commission R&D facility at Pune
Our Regional Bureau / Vadodara Feb 04, 2005, 22:21 IST
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