Hetero Healthcare, part of the Rs 7,500 crore Hetero Drugs, is setting up three units in Andhra Pradesh, Telangana and Assam to expand its formulation business in the country.
"We are setting up three new units at Andhra Pradesh, Telangana and Guwahati, Assam, to manufacture formulations for the domestic market. The Andhra unit will commence production in December, while Guwahati plant is almost 75 percent ready and will be operational by March next year. Telangana unit will take some time," Hetero Healthcare P K Hiradhar told PTI.
The company will manufacture injectables at the Andhra unit and tablets and capsules in Guwahati units. These three units will add roughly around 20-25 percent turnover to the company, he said without divulging investment figures.
The firm has also lined up new molecules to expand its product portfolios in the segment of Hepatitis, Oncology, and HIV, he added.
Hetero is one of major global suppliers of APIs (including cytotoxics) to the pharmaceutical companies that manufactures formulations and new-generation products in India and abroad.
Hyderabad-based Hetero has over 25 manufacturing facilities located in India, China, Russia, Egypt, Mexico and Iran. Since 1993, the company has produced more than 300 APIs with over 60 of them receiving market approvals in the US and Europe. Additionally, the company produces bulk APIs for regulated and semi-regulated markets.
The company exports 60 percent of its APIs and formulations to over 135 countries and it is a global market leader in HIV segment with 30 percent global market share.
Nearly 90 percent of its revenue comes from the international market, he said adding that Hetero is the first company that launched Swine Flu drug (Oseltamivir with brand name Fluvir) in the domestic retail market.
The subsidiary firm, Hetero Healthcare, has strong product portfolios in Hepatitis, HIV and Oncology segments. Last year, Hetero launched path-breaking Hepatitis C drugs Sofosbuvir along with other patent holders from Gileads.
Hetero HealthCare also has research & development facilities dedicated primarily to drug discovery.
"Our R&D center at Hyderabad is focused on discovering New Chemical Entities (NCEs) and taking them to the stage of clinical development and has made several significant progresses. In addition, R&D facility, which has 120 Phd holders engaged in the formulations development and Novel Drug Delivery Systems (NDDS)," Hiradhar said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
