The city-based Matrix Laboratories Ltd, formerly Herren Drugs, plans to upgrade its production facilities as part of its strategy to concentrate more on regulated markets.
Company sources said a regulatory affairs division has been set up to prepare product master files for registrations in various regulated markets.
The bulk drugs producer, after the change of management last year, has taken up some strategic initiatives such as restructuring the product profile, focusing on export markets and stepping up process research and development activity to improve the bottomline. The company expects to post a turnover of Rs 100 crore for the current fiscal.
Matrix has now focussed on a wide range of anti-AIDS and anti-depressants, apart from anti-bacterials such as ciprofloxacin, norfloxacin, pefloxacin, moxifloxacin, levofloxacin and gatifloxacin.
Matrix recorded a net profit of Rs 3 crore on a turnover of Rs 48 crore for the first half of the current fiscal, compared with Rs 1.24 crore net profit on a turnover of Rs 28 crore in the same period last year. The company posted a net profit of Rs 4 crore on turnover of Rs 60 crore during fiscal 2000-01. The paid-up capital stood at Rs 7.19 crore.
