Erica Pharma targets inorganic growth
Mumbai- based Erica Pharma is growing through the inorganic route. Usha Sharma tracks the moves
Every company begins small, with big dreams. Erica Pharma is one of the few newly emerging pharmaceutical companies which looks set to achieve its targets much before its peers. At present its total turnover is approximately Rs 21 crore and the company is targeting to reach between Rs 60-70 crore by the end of the current financial.
The company, promoted by Rajesh Ranjan Singh, commenced operations in 1999. It is in the process of acquiring a formulations manufacturing facility located near Pune, Maharashtra. According to Sumit Jain, Vice President, Corporate Affairs, Erica Pharma, the deal will be finalised within a month.
Giving more details of the company’s performance, he says, “As of now, more than 100 of our products are registered in 15 countries across South East Asia, Africa and CIS and recently we have won the “Top Exporter Award” from Dun and Bradstreet and ECGC. Currently, we supply to semi-regulated markets of these regions and our plant has got over 200 manufacturing licenses.” The company’s plant has received accreditation by government regulatory authorities of Malawi and Ukraine.
The company is all set to expand its existing capacity by installing new high performance machines and will be focusing on contract manufacturing as a key business strategy. Erica is in the process of developing contract manufacturing alliances and is also eying tender supply opportunities in both domestic as well as exports markets.
The facility of the company being acquired conforms to stringent Good Manufacturing Practice (GMP) standards and is certified by WHO. Currently, the plant has tablet and capsules manufacturing lines. “The plant being acquired has scope for expansion as well. It is situated in a pollution free zone and is well connected by road and rail with most parts of the country”, Jain comments.
Erica is also putting up a state-of-the art manufacturing facility at Goa which will be complaint with WHO-GMP, UK MHRA and US FDA norms. It is expected to be operational by early 2009. Talking about further initiatives, Jain says, “We invite alliances from European Union (EU) and other regulated markets for marketing and distribution for our existing and pipeline products.”
“This is the first time we are participating in the CPhI Worldwide event. We are hoping that it will augment our international focus and presence in the regulated markets of EU and other markets as well,” Jain adds.