Mankind in talks for joint ventures

Delhi-based pharmaceutical company Mankind Pharma is in discussion with firms in Italy and Denmark for setting up a joint venture in India.

R C Juneja, managing director, said, "We are in advance discussions with one Italy-based company and another Denmark"�based pharma company for a possible joint venture."

Things are likely to take final shape in next three months, he added. "They are supposed to bring in new technology, whereas we will be providing our manufacturing base in India," he added. The focus would be on the lifestyle and neutraceuticals segments, he noted.

The alternative possibility would be having exclusive licence to market products of those companies in India, Juneja added.

Meanwhile, the company has set the target of achieving Rs 1,000 crore turnover in the next five years.

"We are looking at a turnover of Rs 500 crore in 2006-07 compared with Rs 350 crore in the previous financial year. The company will be looking at a turnover of Rs 1,000 crore in the next five years, with exports contributing 10 per cent," he added.

The company has also firmed up investment plans of Rs 65 crore for setting up a new manufacturing unit in Paonta Saheb, Himachal Pradesh.