OTHERS
| Biocon eyes Gujarat for manufacturing plant Mon, 10 Sep 2012 00:41:58 +0530 |
| Business Standard Economy Policy News India's leading biopharma company Bangalore headquartered Biocon Ltd is eying Gujarat to set up a manufacturing plant near Ahmedabad, informed senior state government officials here. "Biocon has approached the state government for land to set up a manufacturing plant here. The company is interested in Gujarat, but talks are in the preliminary stages", said H G Koshia, commissioner,Gujarat Food and Drugs Control Administration (FDCA). The Rs 1555.85 crore company has presence in chronic therapy segments including diabetolgy, oncology, nephrology,cardiology,immunotherapy among others. Proposed investments on the plant could be around of Rs 250-300 crore. An e-mailed query to Biocon went unanswered. Meanwhile, M Sahu, principal secretary, industries and mines department of government of Gujarat, said, "Many global pharma companies from countries like Japan and other European nations are keen to invest in the state. One can expect at least 25-30 big pharma companies to invest in Gujarat in the recent future." Global majors like US based Abbott Laboratories and Israel's Teva Pharma are all set to enter Gujarat. Abbott India, a wholly owned subsidiary of Abbott Laboratories is planning to set up a Rs 360 crore nutraceutical manufacturing plant at Jhagadia near Vadodara. Israel's Teva Pharmaceutical Industries is also entering Gujarat through a joint venture with US-based Proctor & Gamble (P&G) and will set up a Rs 250 crore manufacturing facility at Sanand to make over-the-counter (OTC) drugs. Talking at the sidelines of Pharmac India 2012, a pharma machinery exhibition in the city, Sahu added that Gujarat based pharma players export to more than 200 countries. Gujarat accounts for around 28 per cent of the country's pharma exports, informed Koshia, adding that India exported around Rs 18,000 crore worth pharma products in 2011-12. Share of small and medium players from the state in pharma exports is on the rise. |
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