India-based United Biotech is diversifying into the oncology segment starting with the launch of its new oncology division at an initial investment of $3.4 million.
The company has established a state-of-the-art division for oncology at its facility in Baddi, Himachal Pradesh (India). This new division is set up in collaboration with Blausiegel, a Brazilian company, for its entire range of biotechnology products used specifically for the treatment of cancer. The company is also in talks with four other global pharma companies for strategic tie-ups for its oncology business.
With this launch, the company intends to manufacture and market molecules that are currently being exclusively marketed by multinationals. The company also intends to offer the products at a much lower price than that offered by the multinationals.
"To funnel our short term growth plan in the oncology segment we aim to tap the global oncology generics business opportunity worth $14-15 billion dollars in the next five years. While our long term growth plan in the oncology segment will come through new drug delivery systems (NDDS) being developed by our in-house scientists and supplementing its strength through alliances. United Biotech will follow multi-pronged strategies for its continuous growth across all therapeutic segments that it is currently in operation," said Mr R K Dewan, Vice President Marketing, United Biotech.