Promed pharma plant inaugurated
Promed Exports has set up its own plant at Nalagarh for manufacturing of various pharma products for exports to CIS countries, Russia, Europe, and USA
TweetPromed shall be manufacturing both the aseptically filled and terminally sterilized products in solution and suspension forms, including eye drops, inhalation Inhalation products, Injectables, Wound Care Solutions, Ear Drops and Nasal Drops, conforming to the USFDA, EMEA & other regulatory agencies,
Promed shall be undertaking contract manufacturing, formulation development & analytical development for liquid sterile products in Blow-Fill-Seal (BFS) containers in size ranging from 0.5 ml to 20 ml.
The company has installed two state-of-the-art productions lines with 90 million vials per annum capacity and in the next two years or so the company shall put up four more high-speed production lines taking the capacity to 600 million vials per annum, informed Mr. Deepak Bahri, President of Promed.
The plant has been set up on 4 acres of land at a cost of Rs.50 crores, and the company would be investing another Rs.100 crores for further expansion, he said.
Promed which started its operations in 1990 as an export house for pharmaceutical products procured through contract manufacturing, has been ranked the 7th largest exporter to Russia after Dr Reddys, Shanta Biotech, Ranbaxy, Unique, IPCA, and Shreyas, said Mr. Bahri.
In the Russian opthalamic market, Promed ranks at number 4, he said, and during 2006-07 the company logged Rs.75 crores turnover. With this new plant, we intend to achieve Rs.100 crores turnover in the current financial year and would now be reaching out to newer markets in Europe and US, he added
The company has given employment to about 200 people in this new facility and about 100 more shall be recruited in next few months time, informed Mr. Bahri.
The company has also set up the Promed Research Centre (PRC) in Gurgaon with a team of 60 scientists who are engaged in developing new formulations in order to become a truly integrated Global company.
Notes to Editor
Promed started operations in 1990 as exporter of various pharmaceutical products to Russia where it has acquired a special niche especially in the opthalmic market. On 17th April 2007, the company inaugurated and commissioned the commercial production at its newly built plant at Nalagarh in Himachal Pradesh, India, to manufacture both the aseptically filled and terminally sterilized products in solution and suspension forms, including eye drops, inhalation Inhalation products, Injectables, Wound Care Solutions, Ear Drops and Nasal Drops, conforming to the USFDA, EMEA & other regulatory agencies.