Alembic, the oldest pharmaceutical company in the country, has decided to set up its own Special Economic Zone (SEZ) dedicated to the pharma sector, its Chairman and Managing Director Chirayu Amin said today.The land for the proposed SEZ is located at Kavi and Nahar village on the Mahisagar Tidal sanctuary, about 60 kms from here, Amin told PTI.This will be a single sector SEZ focussing on meeting the requirments of the pharmaceutical industry for the entire spectrum of naturally Derived/Biologically-developed/ Semi-Synthetically-developed/Synthetically-developed drugs and their succeeding formulations and dosage forms and preceding intermediates.The manufacturing of Penicilin using indigenously developed technology was considered as incredulous until Alembic took up the challenge and proved that it could be done, Amin said.Manufacturing of high quality glass containers and tableware on automatic lines for the first time in the country was a highly successful venture and subsequent foray into premium quality crystal and cut glass products was so far ahead of its time that the market was not quite ready for it.The growth of the Indian economy with significantly improved GDP and comsumption levels is good for the domestic pharmaceuticals industry as more customers are entering organised health care as they can afford more medicines, Amin said."This is very important and advantageous for a company like Alembic which has its domain strength in acute therapy segment since this would be the first line of defence," he said.
