Usha Sharma – Mumbai
Chennai-based contract research company, Quest Life Sciences, plans to tap the US market. The Rs 9-crore company will be registering 10-15 new products in the pain management, gastrointestinal and CNS therapeutic segments in the US market by 2014 with an investment Rs 35 crores. The company also plans to expand its formulation facility at Gummidipoondi, Chennai after the registration process.
TS Jaishankar, Managing Director, Quest Life Sciences said, “Presently in the international sphere, we have our business presence in rest-of-the-World countries and to expand this, now we are targetting to explore the US market.”
“After the registration process in the US market, we plan to invest in our existing manufacturing unit at Gummidipoondi in Chennai. With the help of this facility, we will be manufacturing products for the US market,” added Jaishankar.
Quest Life Sciences conducts late phase trials involving multiple centres across India. It offers a complete range of ICH GCP compliant services for phase I to IV clinical trials and delivers cost effective, timely research solutions. The company offers a full range of clinical trial services, having extensive experience in conducting PK/PD (Pharmacokinetic-pharmacodynamic) studies. It has employed 65 scientists at its research centre and plans to increase head count at the facility to 200 (including office staff) after the expansion. With a current turnover of `9 crores, it is targeting to touch Rs 12-15 crores in 2013-14 and Rs 100 crores by 2017.
Commenting on the future roadmap of his company, Jaishankar said, “We provide end-to-end business solutions and work with many domestic, as well as multinational pharma companies. We have received queries from various companies and are in discussions. We are not interested in selling our company at any cost, however, are looking at forming strategic alliances.”