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Sati Pharma unveils Indian operations, to invest $2.5 M
By siliconindia
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Monday, 06 October 2003, 19:30 IST
NEW DELHI: Hongkong-based pharmaceutical company Tayobi International has announced its entry into Indian market with Sati Pharma with an initial investment of about $2.5 million.
"We are setting up a US Food and Drug Administration- compliant plant with a total investment of about $1 million," Sati Pharma chairman Prem R Aildasani told reporters.
Aildasani said the new formulation manufacturing facility in Gujarat would cater to the export market apart from meeting domestic requirements.
He said the company would be launching anti-diabetes and osteoporosis drugs by next month.
The $425 million Tayobi International is basically a bulk drug manufacturer and already has a manufacturing plant in the country, near Mumbai.
The company which has already set up its representative offices in US, West Asia and South Africa is also eyeing the anti-HIV and anti-cancer segment where its marketing strategy would be based on pricing.
Sati Pharma is setting up an extensive marketing network with an initial field force of about 200 in north India.
Tayobi International, the parent company, deals in steroids and hormones and has a manufacturing facility in Chinese province of Zhejiang.