Troikaa puts Sanand plan on fast track

Ahmedabad-based Troikaa Pharmaceuticals Ltd plans to start work on the Sanand plant plant by the end of this year. Though the company has around 75 acres of land in possession, is struggling with land clearances.

“The land is in two parcels, one an 80,000 square yard unit and another a 120,000 sq yard unit. We expect to get clearance for one lot soon and are working to get the clearances for the second lot. We are in regular touch with the department of industries in this regard. We can start the construction work even if one lot is in place,” said Ketan R Patel, managing director, Troikaa Pharma.

The mid-sized pharma company had earlier planned to delay the Rs 150-crore Sanand manufacturing facility as it did not want to stretch its resource base.The Sanand facility will be funded by a 70:30 debt-equity.

Buoyed by the demand for its injectable Dynapar AQ, for which it has been granted patent in around 40 countries so far, the company now plans to shift part production of the drug to its Sanand facility from Dehradun. Nearly 70 per cent of the Dehradun plant capacity is getting used up in the production of Dynapar AQ.

The plant has a capacity to manufacture three million injectables per month. In Sanand the company plans to have a capacity of around six million injectables per month, besides tablets, capsules and topical preparations. Patel also added that part of or the entire production of its Thol facility, around 25 km from Ahmedabad, could also be shifted to Sanand.