Business
Otsuka Chemical launches new pharma plant in Rajasthan
Jaipur | May 16, 2008 9:45:12 PM IST
Japan's Otsuka Chemical Friday announced the commencement of its Rs.1.5 billion pharma-based chemical unit manufacturing facility near here. After the inauguration, Hiroyishi Tosa, managing director of the company, told reporters that with the commencement of the new manufacturing plant, advance Cephalosporin antibiotic intermediate also called GCLE, would now be available in the country and will not have to be imported. Indian pharmaceutical industry imports 80 percent of the GCLE, used in manufacturing of antibiotics and pain relief medicines. "You can well imagine our stakes in India. We are the only company which manufactures GCLE," said Tosa. Tosa said that the company was the exclusive supplier of the chemical and the new plant would ensure that their technology is not stolen and remains "secret" with them. Indian pharma companies have been importing GCLE from Otsuka Chemicals at $115 per kg. "The cost will remain the same for Indian pharma companies. But they will benefit from the import tax exemption. They will now start getting GCLE in India itself," explained Tosa. The plant set up at Keshwana Rajput village in Jaipur will initially produce 500 tonnes of the pharma-chemical. "We would later increase our plant's capacity," said Tosa. This is for the first time that the Rajasthan government with the help of the Rajasthan State Industrial Development and Investment Corporation (RIICO) has been able to attract a foreign pharma-based chemical unit to the state.ss/vdm/vt (274 Words)16052111NNNN (IANS)
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