23 November 2023 | News
Total investment for the project would be Rs 50 crore
image credit- shutterstock
Mumbai-based Sanjivani Paranteral has inked a significant agreement with Hindustan Antibiotics, the first drug manufacturing company to be set up in the public sector by Government of India, for the manufacturing of Intravenous (IV) formulations and IV sets. The agreement is backed by a confirmed purchase commitment from Hindustan Antibiotics.
The partnership will see the establishment of a cutting-edge manufacturing facility within the premises of Hindustan Antibiotics at Pimpri works, Pune. Sanjivani Paranteral will soon initiate the process of upgrading facilities, and the production is likely to start from Q3FY25.
The plant capacity will be 50 lakh IV fluids bottles and 10 lakh IV sets per month. This strategic move underlines both companies' commitment to meet the demand of IV formulations and IV sets. The total investment for the project would be Rs 50 crore.
Ashwani Khemka, Chairman & Managing Director of Sanjivani Paranteral said, "Our collaboration with Hindustan Antibiotics Limited not only reaffirms our commitment to innovation and healthcare quality but also aligns with our vision for advancing pharmaceutical manufacturing in India."
According to Milind Palhade from Hindustan Antibiotics, “The joint venture will help to elevate the standards of pharmaceutical manufacturing, emphasising innovation, quality, and accessibility in the production of IV formulations and IV sets. Both the companies are positive about the transformative impact this collaboration will have on healthcare delivery in India.”