14 September 2020 | News
Built with an investment of Rs. 75 Crores the recently acquired WHO GMP certified manufacturing plant will produce Remdesivir
Image credit- shutterstock.com
Hyderabad based API and intermediates innovator Saptagir Laboratories – part of the Rs 900 Cr Saptagir Group, has announced an exclusive agreement with Jubilant Generics- a Jubilant Life Sciences company, to manufacture intermediates and Active Pharmaceutical Ingredient for intravenous administered drug ‘Remdesivir’.
The drug will be produced at its Hyderabad WHO GMP certified sterile drug product manufacturing plant acquired at an investment of Rs 75 Crores.
Announcing this strategic partnership Shilpa Reddy, Promoter and Managing Director, Saptagir Laboratories stated “We are honoured to partner with Jubilant Generics and make available this life saving therapy to patients across countries and is a significant step towards saving millions of lives affected by the pandemic.”
“This partnership is timely and in line with our strategic growth plans for the company. Our foray into bulk drug manufacturing will open new revenue streams, backed by our extensive global customer base spanning 50+ countries with an array of products targeted at the fast-growing health and wellness segment.” Shilpa added.
Fresh investments in the WHO-GMP certified pharma plant gives Saptagir a strong entry into an adjacent pharma vertical. The strategy is to accomplish USFDA certification for the plant and develop strong partnerships with a target to achieve 500 KL capacity in the coming few years.
Mahesh Reddy, Promoter & Chairman, Saptagir Group said, “We’ve had several successes in product development in molecules that were previously only manufactured in China. This partnership meets the need of our multinational customers who approve India as a strong second source for products beyond China. With the new investment of Rs.75 crores in the pharma plant at Hyderabad we will further grow our presence in the health and wellness business.”
Saptagir Group acquired Saptagir Laboratories in 2019 as a part of a strategy to diversify into the high growth pharmaceutical segment. The Saptagir Group was established in 1988 and is involved in many different segments, including chemicals, pharmaceuticals, real estate, and venture capital funding.
To fuel its growth, in the last fiscal Saptagir Group invested Rs.50 crores in its specialty chemical plant at Andhra Pradesh increasing the capacity by additional 25%, upping its capacity to 30,000 MT. Further, a slew of new aroma products under development at the state-of-the-art R&D facility in Hyderabad will allow the company to further increase our depth of product portfolio.
“With the increased emphasis on health and wellness over the last few years and now more than ever, demand for the specialty chemical products shooting up, our target is to utilize this capacity investment to serve a broader customer base.” Mahesh added.
Saptagir Camphor, the Flagship Group company of Saptagir Laboratories, is the largest manufacturer of Camphor in India and second-largest globally as well as several other aromatic ingredients that serve the largest flavor and fragrance manufacturers in the world.
The market for Remdesivir according to Gilead Life Sciences, the holder of the patent is estimated to be USD 2.3 Billion for this year, and the fiscal year based upon their understanding of the situation. Given that India and the world continues to register an increase in the number of new cases worldwide and there is an acute need for availability of life saving products drugs such as Remdesivir.