Pharma company FDC today said it is developing formulations for various geographies and also looking at opportunities in untapped areas and association in the global markets to boost its revenues.
FDC is a fully integrated, research-oriented pharmaceutical company engaged in the manufacturing and marketing of formulations (finished dosage forms) and Active Pharmaceutical Ingredients (APIs).
"The company is looking at various opportunities in untapped markets and association with business partners in the global markets to boost revenues," FDC chairman and managing director Mohan Chandavarkar said in the company's annual report.
The company has built a visible presence in the regulated and emerging markets. It is striving to place itself on a strong path by expanding its business strategically, strengthening its manufacturing facilities and enhancing capabilities, he said.
The company's laboratories are equipped with state of the art instruments and equipments to enable development of conventional and complex products.
Our scientists work to develop formulations for various geographical markets namely India, ROW (rest of the world) and the regulated markets of US and Europe. The R&D centres are also actively involved in capability building and transferring the technical knowhow of novel drug delivery systems at the plants, accredited by world regulatory authorities, he said.
The Indian Pharmaceutical Market (IPM) grew by 10.3 per cent to reach the market size of Rs 1,11,135 crore and around 3,297 products were introduced during FY17. The cardiac, gastrointestinals and antidiabetics segments have grown significantly and continue to do so due to changing lifestyles and rising disposable incomes. Whereas, the anti-infectives, the ruling segment in the industry, has been growing at a lower pace due to antibiotic resistance awareness, banning of fixed dose combinations by the government and absence of new molecules on the horizon.
However, IPM witnessed the year 2016-2017 full of challenges & chaos in terms of fixed dose combination ban, price erosion (downward price revisions) for a couple of products, non supply of codeine based formulations, impact of demonetisation - impact on purchasing behavior and seasonal impact on acute therapies.
The company has undertaken various measures to minimise the risk impact to the best possible extent, the chairman said.
In the nutraceuticals division, trial and validation of Infant Milk Substitute (IMS) unit at Sinnar was successfully completed. The company will be ready to supply current market requirement of IMS with spare capacity, which should also help in launching new range of products under IMS and complimentary foods for infants, the company said.
In the biotechnology space, the company's project on the development of third generation Thrombolyte, it has obtained the test license from local FDA. Downstream processing, purification and validation trials of the said molecule is being performed at an external party and once the purification strategy is finalized the technology will be transferred to the company, it added.
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