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Sami Labs to invest Rs 100 cr
By siliconindia
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Thursday, 18 September 2003, 19:30 IST
BANGALORE: Sami Labs, the Bangalore-based nutraceutical firm, will invest Rs 100 crore in the next three years to set up manufacturing facilities and upgrading its existing manufacturing capabilities, reports Economic Times, a business daily in India.
Top priority would be to set up a world class formulation plant in Bangalore, and the company expects the liquid dosage plant to cater to regulated international markets, and would be open to contract manufacturing. Sami Labs will also park some of the funds in its chemical business division, and part of it in cosmeceuticals and biotech.
Explaining the investment decision, Sami Labs chairman and managing director Muhammed Majeed said that since the $100 billion industry was poised to take a quantum leap, it was imperative the company invested in the right areas.
As far as products are concerned, Sami is planning to launch a probiotic in the next couple of months. It is also considering the possibility of launching a product to treat dyslipidemia. Also in the pipeline is a formulation to treat obesity. According to Majeed the products currently floating in the market do not have enough clinical support to support their efficacy.
The company already has an impressive product line-up including those to treat arthritis, heart diseases, male infertility, hepatic dysfunction and benign prostratic hyperpalsia. Recently Sami launched organic Selenium for the first time in India under the name Selenocare.
To sustain this efficient rate of growth, Sami is keen to raise its employee strength as well. In the next three years, Sami is aiming to employ 1,000 people, miving up from the current 600 employees.
According to Majeed, the trend in healthcare products in India is shifting from anti-infectives to prventive and supportive products. "These products would determine the future," he said.
Sami Labs, which has an asset base of Rs 60 crore, has plants in Kunigal, Mysore, Nelamangala, Singasandra and Peenya in Karnataka. (Source: ET)