R&D firm plans drug mfg foray
BEYOND BOUNDARIES
| Ahmedabad-based Avance', a research and development company, is set to foray into drug manufacturing. If the plans fructify, Avance' will be the first Indian R&D company to foray into drug manufacturing. |
| "We will manufacture our own patented products that we have developed in our R&D facility. The plant will come up in Ahmedabad and we are looking at a couple of locations," said Shivprakash, managing director of Avance'. The plant would be mid-sized and commence productions in two-three years' time. It would cater to the domestic demand of its patented drugs. |
| Founded in 2004, Avance' is an emerging R&D company in herbal nutraceuticals. It partners major pharmaceutical companies for the development and commercialisation of the formulations by way of licensing out the technology to domestic and overseas players. |
| Shivprakash is also the MD of Synchron, an Ahmedabad-based clinical research organisation (CRO). The company would fund its expansion plans from the revenues it gets by licensing its patents to overseas companies, he said. |
| Avance' has already licensed its first patented laxative to over 17 countries including Australia, Russia, Malaysia and Singapore. The international market for this product is about $650 million. The company has also received patent for its single ingredient plant extract for cholesterol lowering molecule and has licensed it to a US-based company. |
| Shivprakash said the companies here were yet to develop the attitude for R&D as compared with MNCs while they continue to thrive on generics. |