Unichem Laboratories eyes more generic export to foreign markets

Mumbai, January 21: | Updated: Jan 22 2002, 05:30am hrs
Unichem Laboratories has geared up to carve a slice of the export generic market by receiving approvals for 70 new product registrations in overseas countries. The company had earlier received approvals for 50 products which takes the overall tally to 120, even as 100 more products are under the registration process.

The company has received product registrations in South East Asia, Africa, CIS, Sri Lanka, Mauritius, among others. It would also consider setting up wholly-owned subsidiaries in few of these countries to supplement its marketing effort for branded generics, Unichem Laboratories executive director BK Sharma said.

“We forsee a cumulative growth of 50 per cent in the export market in the next three years,” he added.

The product registrations overseas, coupled with the approval from the regulatory bodies from overseas, is likely to boost the company’s export revenues. The company had posted an export turnover of Rs 25 crore for the year ending March 2001.

The company had received approval for its plant at Goa from the regulatory bodies MCA UK and TGA Australia, while the approval for the Baddi plant in Himachal Pradesh is under process. The revamping of the Ghaziabad plant — currently in its second phase — would be completed by June this year, Mr Sharma said.

The company had earmarked Rs 25 crore for revamping its Ghaziabad plant of which it had incurred Rs 10 crore expenditure till date and would be complete by June this year subsequent to which it would also seek approvals from regulatory bodies, Mr Sharma said.

Meanwhile, a nucleus laboratory set up in the science park of Indian Institute of Science (IIS), Bangalore, would be functional by the end of this month. The company has invested close to Rs 4 crore on this laboratory and has recruited 4-5 scientists for the laboratory and another 6-7 scientists may join in, Mr Sharma said.