ABL Bio launches pharma division

To set up new facilities at an investment of Rs 50 crore

Chennai-based ABL Biotechnologies Ltd announced on Wednesday the launch of its pharmaceutical division 'Invia Health' under which it also introduced products for three categories such as diabetes, cardiovascular diseases and gastro-intestinal disorders.

The company is planning an expansion in which it is likely to invest about Rs 50 crore to put up two new facilities near its existing manufacturing unit in Tiruchendur, 45 km from Tuticorin, to manufacture a range of products. The company said it would soon announce details on funding and others.

Addressing a press conference, K O Isaac, chairman and managing director of ABL Biotechnologies Ltd, said that the launch of Invia Health was the extension of its existing business process. The pharma division is the result of company's 15 years of experience in research and development for pharma applications.

"We have competence in developing new formulations, manufacturing and have also helped companies in marketing the products. We have done everything except putting our own brands," he added.

He said that the company had developed over 300 formulations across various segments for over 75 large and small companies. The pharma division is also expected to create a platform for commercialisation of the company's own bio-pharma products, which are at various stages of development.

The products launched today by Invia Health in three categories would initially be marketed in South India and the company hopes to have pan-India presence with simultaneous forays into a number of export markets in the coming years.

These products will be strictly prescription drugs and sold through chemist outlets. The company will be marketing the products through its own field force of 77 people, who will be in contact with physicians, said P S Ganeshan, president, Invia Health, adding that division's portfolio of products would be driven by changing needs of patients and clinicians.

Invia Health is targeting to garner a revenue of Rs 6-10 crore during the first year of operations and would be targeting Rs 25-30 crore in the subsequent year.

On expansion of manufacturing units, Isaac said that the two new facilities in Tiruchendur would come up under Samudra Biopharma Pvt Ltd, commercialisation arm of ABL Biotech. Samudra Biopharma offers both bulk and formulated products to over 25 large and medium scale corporations all over India.

ABL Biotech was incorporated in 1992 to focus on bio-manufacturing, identification and isolation of marine microbial metabolites of therapeutic value and bio-process engineering and later evolved into a product development and manufacturing company for pharma sector.

The combined turnover of ABL Biotech and Samudra was Rs 14 crore. ABL Biotech participates in Centre's funding programmes. It will be receiving Rs 6 crore during this year.