Chennai, Oct 12: The Chennai-based Shasun Chemicals & Drugs Ltd, which had developed chiral drug S-Ibuprofen three years ago with the help of Nagase from Japan, has got on hand S-Naproxen, the chiral synthesis of Naproxen an anti-inflammatory drug. S-Naproxen was developed with the help of Chirotech of the US.Shasun's director (finance) S Vimal Kumar said that the company was now well-versed on chiral synthesis techniques, which would be extensively used in the future on account of better drug delivery and elimination of side effects.
S-Naproxen is being targeted at the US markets, the European markets being very competitive. Shasun has already got FDA approvals for its Ibuprofen and Ranitidine production facilities. As Naproxen is made from the same facility the FDA approval is expected without too many procedural hassles.
Two potential buyers are working at getting the safety approvals. Shasun hopes to start selling the bulk drug by 2000-2001. Exports of 120 tpa is targeted for the first year at approximately Rs 30 lakh per tonne.
S-Naproxen has got OTC status in the US unlike S-Ibuprofen which would facilitate bidding through tenders for retail chains in the US. One of the reasons for the market not being so encouraging for S-Ibuprofen in the US was the failure of E-Merck to obtain the permission for the OTC route. This, said Vimal Kumar, also put a spoke to Shasun's hopes to target the OTC market for S-Ibuprofen. Currently, Shasun is selling S-Ibuprofen to two Swiss companies.
Meanwhile, Shasun is gearing up towards getting the US market for the bulk drug Nizatidine (anti-ulcerant) which goes off patent in 2001. It is the only company outside of Ely Lilly to get FDA approval for Nizatidine. The drug is already off patent in Canada and Shasun has contracted with Apotex for exclusive sales of Nizatidine there. The drug is also sold in Japan and Egypt. The US market for Nizatidine is $1 billion and talks are on to supply the same to patent holder Ely Lilly for a future stronghold. Exports are expected to cross Rs 50 crore for Shasun after it goes off patent in the first year. The drug is expected to fetch a price of $250 to $300 per kg.
Shasun, which also exports Ranitidine and Ibuprofen, is expecting an export sales of Rs 50.72 crore and domestic sales of Rs 30.65 crore for the first half this fiscal. Net profit is likely to touch Rs 7 crore.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.