NPIL Pharma to invest US$50m by 2009
Nicholas Piramal India (NPIL) Pharma has announced it is planning to invest approximately US$50m in the next two years for developing and manufacturing formulations in the UK and India.
Nicholas Piramal India (NPIL) Pharma has announced it is planning to invest approximately US$50m in the next two years for developing and manufacturing formulations in the UK and India.
The move follows on from the company's investments of $50m over the last three years in the two countries.
As part of the investment, NPIL is setting up a sterile supplies plant in Mumbai to be operational by the fourth quarter of the next fiscal year, the firm said.
The company plans to launch its fully integrated formulation capabilities in both existing and new markets of Europe and North America through a series of roadshows scheduled to begin in the second quarter of 2007.
By integrating its capabilities and assets in India and Europe, NPIL Pharma's formulations package now includes API pre-formulation services, formulations development for clinical trial manufacturing and scale-up to commercial manufacture in finished dosage forms.
The company aims to be the market leader in pre-formulations and formulation development to clinical manufacture of capsules, tablets and in sterile aseptic solutions by 2010, Fernandes added in his company statement.
