Elder Pharma plans another facility in HP
Balakrishnan Nair – Mumbai
After setting up a plant in Uttaranchal few months ago, the Rs 400-crore city-based pharma company Elder Pharmaceuticals is setting up another new facility in Ponta Sahib. Ponta Sahib is situated on the border of Himachal Pradesh and Uttarkhand.
The company’s state-of-the-art facility being built at an estimated cost of Rs five crore is spread over 1.5 acres of land. The construction of company’s phase-I has already begun and the facility shall be operational by January 2006.
‘‘We are very excited to be able to provide our customers with a new secure, state-of-the-art manufacturing facility that will enhance our production capabilities,’’ said Alok Saxena, Director, International Division, Elder Pharmaceuticals Ltd.
‘‘Though we considered numerous locations for this investment, yet the combination of this region’s commitment to growing the pharmaceutical sector and the strong support we received from state and local leadership made this place the logical choice. The return on investment for the state in terms of new business activity and well-paying job growth make Elder’s and state’s investments a winning combination.’’
‘‘Being located within a free trade zone, adjacent to Dehradun, within minutes of the Dehradun Airport and within a few hours drive of 75 per cent of businesses, this new facility will greatly enhance our presence in core strength—creams and balms,’’ said Saxena.
The facility shall manufacture ointments, creams and balms with a installed capacity of 25 lakh bottles of balms and 12 lakh units of creams. It is being constructed according to WHO-GMP standards. The business from this unit shall contribute around Rs 70 crore to our total sales. The company’s other Rs 130-crore plant is coming up in Uttaranchal. ‘‘One unit for the manufacturing and packaging of tablets and capsules is completed in the state of Uttranchal and for the second facility, designs are ready,’’ he added.