Bangalore, Sep 07, 2010: India-based pharma startup, Zenox Lifesciences has announced that it is expecting to register a turnover of $21 million (`100 crores) by 2012-13. The company is promoted by Mr S A Manikandan, a former CEO of Indian company, Strides Pharmaceuticals. Zenox is launching 15 brands, mainly for chronic disorders, in Tamil Nadu, Andhra Pradesh, Karnataka, Kerala and Orissa.

 

Managing Director of Zenox Mr Manikandan said that the purpose of Zenox is to enhance the life expectancy of the people diagnosed with chronic disorders, and improve the quality of life, through innovative and novel drug delivery system (NDDS) products in the chronic therapeutic area.

 

“We expect to have a turnover of $3.2 million (`15 crores) in the first six months of operations. We hope to increase the turnover to $8.5 million (`40 crores) by the end of the financial year 2011-12 and to $21 million (`100 crores) by 2012-13 by organic and inorganic means,” he said. Zenox is already in talks with few pharma companies to acquire more brands for inorganic growth.

 

Zenox is promoted with an equity capital of $856,398 (`4 crores). The company is in the process of raising $ 2 million (`10 crores) through private placements. Chairman of Zenox, Dr S Arulrhaj is the Common Wealth Medical Association President and Past President of Indian Medical Association. Zenox has tied up with Formulation Development Organization to create unique NDDS products and producing the same from WHO – cGMP certified contract manufacturing facilities.

 

According to World Health Organization, only 50 percent of patients with chronic diseases living in developed countries, follow treatment recommendations. “One of the important factors that contribute to low drug compliance is the need for taking multiple drugs during different times of a day. In this context, the patient-friendly nature of NDDS drugs can make medication regimens less complex and improve the drug compliance, besides ensuring therapeutic efficacy,” Mr Manikandan said.