Launches paracetamol in intravenous form.

Expanding footprint

Mauritius venture through acquisition of 51 per cent stake, the deal brought a formulations plant into PDIL's fold

Nairobi venture 51 per cent stake

Almaty venture 85 per cent stake, investment in Nairobi and Almaty worth Rs 40 crore each

Mumbai: Intravenous-products maker Parenteral Drugs (India) Ltd expects its three overseas plants to become operational next year, the Chief Executive, Mr Anil Mittal, said.

Through joint-venture companies in Mauritius, Nairobi (Kenya) and Almaty (Kazakh), PDIL is increasing capacity to support its value-added products and their distribution in local and overseas markets, Mr Mittal told Business Line.

The Mauritius venture was through the acquisition of 51 per cent stake by PDIL last year, and the deal brought a formulations plant into its fold, he said. But the company was setting up a new manufacturing facility at the site, with a capacity of 50,000 bottles a day and investment of Rs 60 crore, he added.

PDIL holds 51 per cent stake in the Nairobi venture, while it holds 85 per cent in the Almaty venture. The two plants in these countries are at an investment of Rs 40 crore each, he said, adding that the funds had been tied-up in debt and equity to be brought in by the company and its local partners. And both these plants have a capacity of 100,000 bottles a day, respectively, he added.

Value-add

The estimated Rs 420 crore company has recently launched its value-added paracetamol in the IV form, a first time in India, he said.

The product, priced at Rs 100/ 100 ml vial, is 30 per cent less than the imported cost of the product, he said.

Critical in the pain-management segment, the product targets institutional and hospital sales and has the potential to clock over Rs 200 crore in a couple of years, he said.

The product is at present being imported by Bristol Myers Squibb, he added.

Other value-added products from PDIL expected to hit the domestic market by July, include parenteral nutritional products, fat emulsions, lipids and amino acids, he added.

Exports

At present, exports account for about 10 to 12 per cent of the company's revenues, from sales to emerging markets, he said.

This would improve to 15 to 18 per cent this year, he added.

The company also has a 10-year deal with Piramal Healthcare to market the latter's anaesthesia products in India and Nepal, signed earlier this May. PDIL shares were up close to 5 per cent , at Rs 234 on the BSE.