Usha Sharma – Mumbai
| N R Munjal |
Chandigarh-based leading active pharmaceutical ingredient (API) manufacturer Ind-Swift Laboratories is looking for a partner for accelerating the company’s growth. The partnership could take the form of a strategic equity investment as well.
NR Munjal, Vice-Chairman cum Managing Director, Ind Swift Laboratories said, “We have a good base in R&D, formulations and marketing field force. We have more than 100 scientists at one of the largest API manufacturing sites in India which has been approved by UK MHRA, US FDA, Australia’s TGA, and many more regulatory agencies which is required for exports.”
Munjal elaborated, “ We are looking for a partner with synergies with our business with whom we can take the existing business to the next level.”
Presently, the company’s domestic formulation business has grown rapidly. It has over 1500 medical representatives with nearly 150 branded products. The company has developed fully integrated distribution centres. At present it has five depots and 30 C&F centres which basically manage the company’s entire supply chain distribution system.
The company has multi-location manufacturing sites which produce APIs. The company’s WHO-GMP approved manufacturing facility at Punjab with 17 manufacturing blocks comprises a pilot plant, dedicated blocks and multi-purpose blocks designed to comply with stringent US FDA and other regulatory standards. It has fully approved sites from different regulator bodies like UK MHRA, US FDA, Brazil Anvisa, TGA- Australia, Middle East GCC and many more.
Ind-Swift is exporting to almost 50 countries worldwide medicines worth over Rs 200 crore which are manufactured from its Dera Bassi plant near Chandigarh.
While responding on the actual volume of fund infusion/equity sale involved, Munjal replied, “Currently, we have not decided on the amount. Basically we are focussing on the synergy model which will help our company to grow in a much faster way.”