Medopharm plans new unit

Chennai: The Chennai-based Rs 150-crore Medopharm(MPL) has launched its specialty division Gallant, targeting gynaecology and surgery.

Alongside, the company also unveiled its plans to set up a new plant to make liquid orals and a new block for R&D.

The Managing Director of the company, Mr Udhan Kumar, said eight new brands on antibiotics, haematinics, anti-fungal and pain management, will be introduced under Gallant division.

The existing division Radiant, will continue to focus on general medicines, he said.

Currently, the company gets about 85 per cent of its revenues from exports and launching new division would give the company better inroads in the domestic market, Mr Kumar said.

MPL has two plants, in Guduvancherry near Chennai and in Bangalore. The third plant meant to make liquid orals and the R&D block will come up at its Guduvancherry premises.

These initiatives would help the company shift from replicating to developing drugs, Mr Kumar said.

Besides it would also help it to harness potential in Contract Research and Manufacturing Services (CRAMS), which is growing in India at 23 per cent CAGR for the last five years.