02 June 2014 | News | By BioSpectrum Bureau
Shasun pharmaceutical aims to expand formulation base with new production sites
Singapore: Shasun pharmaceuticals an Indian pharmaceutical company, aims to focus on formulations manufacturing and marketing in the regulated markets, and become a global integrated sector in the next two years. The concern expects the share growth on formulations to be around 25 percent by 2016-2017.
Shasun plans to set up its market subsidiary in the US during the current fiscal year. The company has been a manufacturer and supplier of active pharmaceutical ingredients (API) and a contract research and manufacturing services (CRAMS) provider.
Mr S Abhayakumar, managing director of Shasun Pharma said that, "The focus is on formulations and launching formulations with API integration from our own production." He expects the transformation to be completed in the next two years, and the monetary benefits to be reaped.
He further added that the company is working to get regulatory approvals for the lucrative Japanese market for its formulations, where it already has an API base.
The pharmaceutical company also plans to expand its formulations base by increasing its capacity of production and establishing newer manufacturing sites.