Company Watch

Mankind Pharma goes on an expansion spree

Our News Bureau - Mumbai

Going with the acquisition trend in the pharma industry, Mankind Pharma plans to invest Rs 70 crore in the next two years to support its expansion plans and achieve an ambitious turnover of Rs 1,000 crore in the next five years.

A new manufacturing plant as per USFDA standards is being set up in Poanta Sahib, Himachal Pradesh spread over 12 acres, which will be operational by June. There is also an R&D facility in NCR for formulation development, new drug delivery systems, bio equivalence studies, contract research and new drug discovery on the cards.

The company is also planning to export its formulations and generics to semi-regulated markets of South East Asia, South Africa and former CIS countries, informed Rajiv Juneja, Director, Marketing and added that the company would continue to expand domestic sales through its existing divisions via Mankind Pharma, Discover Mankind, Lifestar and launch of a new division by 2007. "We will be entering new therapeutic segments like asthma, dermatology, anti-malarial as part of this domestic expansion strategy," said Juneja.