Shantha to put in Rs 50 cr for making more HepatitisB vaccine

Hyderabad, Nov 29 (UNI) Soon after its alliance with French drug major Merieux Alliance (MA), pharma major Shantha Biotechnics today announced it would treble its Hepatitis B vaccine capacity by pumping in Rs 50 crore investment to upscale its manufacturing facility here.

From the current level of 45 lakh Hepatitis B vaccine doses, the facility, near here, would produce over 1.5 crore doses by 2007, company Managing Director Varaprasada Reddy told the media.

The newly constituted Board after MA acquired 60 per cent share in the company had its first meeting here today.

Shantha Biotechnics, which posted Rs 90 crore business in fiscal 2005-06, expected its revenue to touch Rs 130 crore in the current year. It forecast revenue would double in 2007-08, post-alliance.

The company spends 20 per cent revenue on Research and Development (R&D).

After the new board finalised its investment plans, MA Chairman Alain Merieus and the majority share holder, said they planned to make Shantha Biotechnics their global development and manufacturing hub for vaccines and other biological products. The French drug major spends about 145 million euros annually on its R&D, 20 million euros of which was on vaccines.

MORE UNI DB AA SRS BS1803