Medopharm launches Gallant division

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Chennai, June 26 (UNI) Medopharm, a four-decade old formulation and quality drugs marketing company, today announced the launch of Gallant division to cater to gynaecology, surgery and dermatology segments.

Addressing a press conference here, company CEO Udhan Kumar said the company was launching the division to cater to gynaecology, which had emerged as one of the fastest growing segments in the country.

He said the company had geared up to expand its domestic business, which was expected to cross the Rs 200 crore mark by 2010.

Of the total revenue, 20 per cent was expected to come from the Gallant division.

Mr Kumar said the company was moving from replicating drugs to developing drugs with a strong Research and Development back up and proposed to set up a R and D division, involving an investment of about Rs 15 crore. As the company was moving towards patent, R and D would be strengthened by making an annual investment of 7.5 per cent of the total revenue, he added.

The company would come out with seven to nine new drugs next year, of which atleast eight drugs would be patented, he said, adding that the company also proposed to focus on developing a completely new molecule in the next three to five years.

Mr Kumar said the company would also set up a new plant for liquid oral and topical formulations this year, involving an investment of Rs 17 crore.

The company was presently catering to markets in the United Kingdom and would expand its global business by entering France, Spain, South Africa and Canada next year, he said.

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