Promed pharma sets up its manufacturing facilities
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Promed Exports started the commercial production of its plant in Nalagarh in Himachal Pradesh on 17th April.
Promed shall be manufacturing both the aseptically filled and terminally sterilized products in solution and suspension forms including eye
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drops inhalation Inhalation products Injectables Wound Care Solutions Ear Drops and Nasal Drops conforming to the USFDA EMEA & other regulatory agencies
Promed shall be undertaking contract manufacturing formulation development & analytical development
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for liquid sterile products in Blow-Fill-Seal (BFS) containers in size ranging from 0.5 ml to 20 ml.
The company has installed two state-of-the-art productions lines with 90 million vials per annum capacity and in the next two years or so the company shall put up four more high-speed production lines taking the capacity to 600 million vials per annum informed Mr. Deepak Bahri President of Promed.
The plant has been set up on 4 acres of land at a cost of Rs.50 crores and the company would be investing another Rs.100 crores for further expansion he said.
Promed which started its operations in 1990 as an export house for pharmaceutical products procured through contract manufacturing has been ranked the 7th largest exporter to Russia after Dr Reddys Shanta Biotech Ranbaxy Unique IPCA and Shreyas said Mr. Bahri.
In the Russian opthalamic market Promed ranks at number 4 he said and during 2006-07 the company logged Rs.75 crores turnover. With this new plant we intend to achieve Rs.100 crores turnover in the current financial year and would now be reaching out to newer markets in Europe and US he added
The company has given employment to about 200 people in this new facility and about 100 more shall be recruited in next few months time informed Mr. Bahri.
The company has also set up the Promed Research Centre (PRC) in Gurgaon with a team of 60 scientists who are engaged in developing new formulations in order to become a truly integrated Global company.
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