Drug firm Cadila Healthcare today said its joint venture with Nycomed--Zydus Nycomed, has commissioned a newly-expanded active pharmaceutical ingredients (API) manufacturing facility at Navi Mumbai.
With this development, the company will become one of the largest producers of API Pantoprazole, a key product for treating stomach and intestine ulcers, Cadila Healthcare said in a filing to the Bombay Stock Exchange (BSE).
"The expansion of operations adds newer dimensions to the partnership and opens up new path to excellence and growth," Zydus Cadila Chairman and Managing Director Pankaj R Patel said.
Zydus Nycomed Healthcare Private Ltd, a joint venture company in the ratio of 50:50 of pharma majors, Zydus Cadila and Nycomed, expects to start commercial production of three API's (Pantoprazole, Urapidil, and Loronoxicam) by December 2010.
"Today's plant opening is a significant step forward to getting high quality API's in Nycomed's branded generic portfolio produced at competitive costs," Nycomed Chief Executive Officer Hakan Bjorklund said.
Bjorklund further added: "Having a time-tested and solid partnership in place, like we have with Zydus Cadila, gives me the confidence we will continue to achieve our goal of getting medicines that matter those who need them."
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The plant, will produce 11 APIs by 2011. The company, however, did not specify the existing and the added production capacity nor the spokesperson could be reached to confirm.
Shares of Cadila Healthcare today closed at Rs 661 on the BSE, up 1.94 per cent from its previous close.