Unichem turnover rises 14 per cent to Rs 132 crore

Our Corporate Bureau

Mumbai, Sept 20: Unichem Laboratories has registered a 14 per cent increase in turnover to Rs 132 crore for the first five months of the current fiscal, as against Rs 116 crore in the corresponding period last year. The company expects to end the year with a growth rate of 19 per cent to 20 per cent, Unichem chairman and managing director Dr PA Mody said at the company’s annual general meeting here on Thursday.

Dr Mody said that the company has entered into a memorandum of understanding (MoU) with the Indian Institute of Science, Bangalore, to undertake collaborative research by setting up a biotechnology laboratory at its new R&D centre in Mumbai. In biotechnology, Unichem would try to figure out future drugs by working on gene research, while the other area of interest would be bio-generics, Dr Mody said.

In the international business, Dr Mody said that Unichem would register an export turnover of Rs 25 crore this year, as against Rs 16 crore last year. Unichem is planning to enter the US market with its active pharma ingredients (APIs) and would be completing its first submission this month. The company recently opened a sales coordinating office in Moscow.