SmithKline Beecham Pharma India to launch anti-diabetic drug
10 Jul 1999
SmithKline Beecham Pharma India Ltd, the Rs 300-crore subsidiary of the Anglo-US pharma multinational, has applied for an Indian drug registration to introduce its newly developed anti-diabetic drug Avandia. The company is awaiting approval from the Drug Controller of India.
Avandia received US FDA approval only in June 1999 for the treatment of type 2 insulin-dependent diabetes. Daniel McDonald, managing director, SmithKline Beecham Pharma, says the drug is a therapeutic breakthrough with the potential to generate $2-3 billion in global sales within the next three years.
SmithKline Beecham Pharma India has firmed up plans to produce the anti-diabetic drug locally at its bulk drug and formulation facility in Mysore. This marks a clear shift from the earlier preference for importing patented products. The company is investing Rs 2 crore to upgrade the Mysore plant to international standards.
The Bangalore-based company, which is a market leader in hepatitis B vaccine, plans to launch three more new products this year. These include an anti-diarrhoeal and a couple of reformulations from the existing range.
SmithKline Beecham Pharma India is investing an additional Rs 1.5 crore in its chemical plant to bring it on par with the global manufacturing standards. On the distribution front, the company has invested Rs 3.2 crore to modernise its stores. It earmarks Rs 5 crore each year for such upgradation projects.
The company expects to double its exports in the current fiscal from Rs 10 crore in 1997-98. It expects to double this further during 2000-01. For the past five years, the company''s cost-containment measures have paid rich dividends, with annual savings of Rs 1 crore. It expects to save a crore this year too.