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| Exchange Disseminated Time | Ind-Swift Ltd has announced that with the setting up of three units in the northern region comprising States of Punjab, Himachal Pradesh and Jammu and Kashmir, Pharma major, the Company is at an advanced stage of Implementation of its expansion plans with an investment of Rs 1000 million which is expected to be completed over a period of 6-9 months.
The Company is setting up a state of the art 100% Export Oriented Unit (EOU) at Lalru, Punjab; a new finished dosage facility at Tax Exempted Zone, Baddi (HP) & a new unit at Samba, Jammu (J&K). The unit at Jammu is near completion and is expected to commence production in May 2005 and the other two units are expected to be operational by September 2005 . Post expansion the capacities are expected to increase by 2-3 folds, with an estimated 30.40% rise in the topline arid bottomline of the Company.
To further seize the opportunities the Company has recently purchased 7 acres of land in the Tax free zone of Baddi for setting up a new formulation facility dedicated for the manufacturing the Oncology, Cephalosporin's, Beta Lactum, Herbal & Neutraceutical products. The Facility when operational will be largest in terms of capacity in the north India.
The Company's 100% EOU plant would be complying to EU/TGA/MCA approved standards. The Companys new Facility at Jammu is almost ready for commercial production and enjoys 10 year of tax holidays including excise, sales tax and other subsidiaries announced by the J&K Government.
The Company has received its first US patent for "Controlled Release Macrolide Pharmaceutical Formulations " developed in-house by the Research and Development department of the Company. The Worldwide market of this drug is US$ 1.5 billion and the molecule goes off-patent in by the end of this month and its expected growth in volume terms would be more than 30%.
The Company has also been granted two process patents from Indian Patent Office. One patent is a new salt of the Erythromycin derivatives which is characterized by Advance Solubility and Stability for use in all its Dosage form an other is a process patent for a tasteless, directly compressible complex of Anti-Histamine drug and its use in pharmaceutical formulations.
Going further the Company is at an advanced stage of getting its products registrations in overseas markets. So far it has filed 40 dossiers in various Asian & European countries. Company targets to achieve an exports of 40% of the total turnover in the next 3 years. |
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