Mankind Pharma targets Rs 1,000-cr turnover

Posted AtSify.com

Mankind Pharma has set itself an ambitious target of achieving a turnover of Rs 1,000 crore in the next five years.To achieve this, the company plans to invest Rs 70 crore in the next two years in scaling up its manufacturing capability and investing in research and development (R&D).

According to R.C. Juneja, Managing Director, Mankind Pharma, a new manufacturing plant complying with the US Food and Drug Administration standards is being set up in Poanta Sahib, Himachal Pradesh."Mankind will set up a latest R&D facility in the national capital region (NCR). This facility will have capabilities in the areas of formulations development, new drug delivery systems, bio-equivalence studies, contract research and new drug discovery," he said.

Mankind Pharma is also planning to export its products to other semi-regulated markets of South East Asia, South African and some CIS countries. "We hope that exports will contribute 10 per cent to the annual turnover," said Rajiv Juneja, Director, Marketing. In India too, it will add a new division to its existing ones by the end of 2007 which will comprise oncology and other critical care segment drugs.

The domestic formulations business is expected to grow at 40 per cent. Domestic sales will continue to be the cornerstone of the growth strategy. "Currently, we have a 1900 strong field force. Over the next two years, this number is likely to grow to 3,000 people," he added.

December 16, 2005