Unichem Lab To Infuse Rs 100 Crore In FY08

Mumbai: Unichem Laboratories has earmarked an over Rs 100 crore expansion plan in 2007-08, including investments of Rs 50 crore for setting up a special economic zone (SEZ) at Pithampur, near Indore in Madhya Pradesh. The SEZ in Indore, an export-oriented facility, will manufacture finished drugs. The first phase will come up in 18-20 months.

The company intends to put in about Rs100-120 crore in the SEZ, in two phases. Additionallly, the company will set up a new plant at Baddi, where it has already set up two units to cater to the domestic market. Unichem is also expanding the manufacturing facilities at Aurangabad in Maharashtra. The two facilities will cost about Rs 50 crore. Unichem, which achieved a Rs 562 crore turnover in 2006-07, is likely to touch a turnover of Rs 800 crore in the current financial year. It, currently, has supply and marketing alliances with Lannett Company and Pliva, which was taken over by Barr. So far, Unichem has filed five abbreviated new drug applications (ANDA) and the applications for marketing generic drugs in the US with the US Food and Drug Administration (FDA). It plans to file another eight to ten ANDAs during the current financial year.