Neopharma, the Abu Dhabi-based pharmaceuticals manufacturer, has invested AED250m (Euro 47m; US$68m) in new facilities for the production of pharmaceutical dosage forms and high technology based research and development.
The plants will manufacture nutraceuticals, injectable preparations, topical applications, ophthalmic products and aerosols.
In addition, production lines are being set up for antibiotic drugs called cephalosporins. Neopharma has allocated separate areas for both oral and injectable variations.
The new facilities will be designed on guidelines recommended by the US FDA. Equipment for the expansion is being sourced from companies worldwide and commercial production is expected to begin within 14 months.
Dr B R Shetty, managing director and ceo of Neopharma, said the new facilities would form an integral part of the company's horizontal integration process to produce additional pharmaceutical dosage forms and mark its foray into high technology based r&d.
"Companies across the globe are reluctant to start new initiatives due to the impact of recession. Yet at Neopharma we have been aggressively pressing ahead with our organic growth initiatives that remain crucial to the future of the company," he said.
"The immense support of Bank of Baroda, the lead financing partner in this project, is a significant stimulus that complements our efforts. The success of pharmaceutical companies depends to a large extent on the ability to introduce new and novel therapies. We believe our investments in this area will provide the necessary impetus for sustainable growth."
Neopharma's in-house r&d efforts have already seen the introduction of products in sustained release formats, including medications for diabetes and the management of angina. A joint venture with Indian biotech Biocon led to the introduction of nanotech-based oncology product Abraxane that is used in the treatment of breast cancer.
Neopharma has also received approval from the UAE Ministry of Health to manufacture BR Flu (Oseltamivir) for the treatment of H1N1 infections. The product is an outcome of its joint venture with Indian pharmaceutical firm Hetero Drugs.
Hetero Drugs is the only supplier licensed by Swiss drugmaker Roche to make a version of its Tamiflu drug.
"We are confident the approval for oseltamivir will significantly facilitate medical professionals and the wider community effectively to tackle the lethal H1N1 virus in the region," said Shetty.
