Ind-Swift sets up R&D unit

Chandigarh-based Ind-Swift group has added a new export-oriented unit near Derabassi and a research and development centre at Mohali to focus on CRAMS and the regulated market, with an investment of Rs 60 crore. The group has a turnover of Rs 600 crore.

The new R&D centre, set up under Ind-Swift Laboratories Limited, has 8 synthetic laboratories which will focus on the development of new chemical entities and contract research, besides facilitating the company's entry into regulated markets with the filing of 4-5 drug master files (DMFs) every year. The facility has been set up with an investment of Rs 25 crore.

Ind-Swift Laboratories Limited Managing Director said the commissioning of this project will facilitate the company's entry into the regulated market of the US and Japan. At present, the company is doing contract research for the Netherlands, the UK and Germany.

"We will be filing for 25 DMFs by 2007-08, as drugs worth $ 84 billion go off patent by 2008," he said. The company has filed 7 DMFs in the US and 50 DMFs in other European countries for its drugs.

Ind-Swift laboratories Limited has nine manufacturing plants at Derabassi and Jammu .The company's turnover was Rs 260 crore in 2004-05. It is expected to touch Rs 340 crore this fiscal. With three units recently put to commercial production at Samba in Jammu conforming to the US FDA standards, the company expects an additional revenue generation of Rs 100-120 crore from these units in the current fiscal year.

"We are in an advanced stage of discussion with global companies on innovative drug and generic products," informed Munjal. Ind-Swift Limited, a 100 per cent export-oriented unit of the group, has come up at an total investment of Rs 35 crore. In the first phase, the unit will have the capacity to manufacture 750 million tablets per annum and 4.5 million dry syrups per annum. "In the second and third phases we are planning for the oncology section, cephalosporins, Beta Lactum categories," stated Dr G Munjal, chairman, Ind-Swift Limited.

"In the first year of operation, we target to achieve 20 per cent of our revenues from export, which will further increase to 40 per cent in the next three years," Dr Munjal said.

Another unit of Ind-Swift Limited in Baddi will be commissioned by next month, after which the topline and bottom line of the company is expected to rise 30-40 per cent.

The company is also going to set up a new formulation unit, spread over 7 acres of land, in Baddi. The facility will manufacture oncology, cephalosporins, betalactum, herbal and neutraceutical products.

"By December 2006, we will commission the plant and invest Rs 40 crore for the project," said Dr Munjal. Ind-Swift Limited is currently ranked 44th by ORG IMS (February 2006).

It aims to be among the top 15 companies in India by 2008 in formulation. "We are already in the top 10 position in APIs and target to be in the top five in the next two years," informed Dr Munjal.