Shasun Chemicals pulls off a coup

US-based chemicals major, Eastman Chemical Inc., has agreed to licence its technology to manufacture pharmaceutical excipient acrylic emulsion to the Chennai-based bulk drug company, Shasun Chemicals and Drugs. Under the agreement, Shasun Chemicals will have the right to market the product in Asia.

According to Mr. Harish Davey, managing director for Eastman's South Asia operations, the agreement recognises Shasun Chemical's position as a leading Indian producer of active pharmaceutical ingredients (APIs) as well as the growing importance of India as a key market for the manufacture of fine chemicals and intermediates.

"We shall explore other possibilities with Shasun Chemicals as a part of Eastman's continuing efforts to capitalise not only on our global manufacturing base and product portfolio, but also on our intellectual property via relationships like this," he added.

It may be recalled that Eastman Chemical had earlier licensed Shasun Chemicals to manufacture hydroxypropylmethyl cellulose phthalate (HPMCP), an excipient or non-active ingredient of a drug.

Mr. Davey, based in Mumbai, also heads Eastman's Global Technology Ventures' initiatives for licensing Eastman's technology portfolio in the Asia-Pacific region.

Dr S. Davendra, managing director of Shasun, said, "We are pleased to enter into this co-operative effort with Eastman as another facet of our continuing global outreach to the pharmaceutical community to meet growing needs for outsourcing of pharmaceutical intermediates, bulk actives and functional excipients."

The company's joint managing director, Mr Abhaya Kumar, says, "The synergy from the technology would enhance the company's capability from producing bulk pharma to venture into formulation segment of fine chemicals business. This technical interface will give Shasun Chemicals the leading edge as the first producer of acrylic emulsion in Asia and position us as a key player in the region."

Mr Vimal Kumar, finance director at Shasun, said the two technologies licensed from Eastman, HPMCP (hydroxypropylmethylcellulose phthalate) and acrylic emulsion proves Shasun Chemicals' commitment to growth through value addition and entry into the formulation business that would certainly reflect in better financial performance.

Shasun Chemicals is a leading supplier of cGMP pharmaceutical ingredients and intermediates, with production facilities in Pondicherry and Cuddalore. One of the largest suppliers of ibuprofen in the world, Shasun exports products to customers in more than 40 countries.