Reliance Life plans pharma foray, Rs 900cr capex

Mukesh Ambani-promoted biotech venture Reliance Life Sciences now plans to foray into pharma business for generics and contract manufacturing and acquire biotech companies globally as part of its expansion plan.

The company, promoted by Mukesh Ambani and other board members of Reliance Industries, has also charted out a Rs 900 crore capacity expansion plan to set up a new facility in Mumbai, industry sources said.

Besides, the company is on the prowl for acquisition in the biotech space globally, especially Europe, they added.

As per its expansion plans, Reliance Life Sciences (RLS) will manufacture off-patent drugs and is in the process for tying up with major drugmakers for its contract manufacturing foray, the sources said.

RLS, which has so far invested about Rs 1,200-1500 crore in its existing facility in Mumbai, is expecting the new facility to be operational by the second half of next year and would mainly manufacture plasma proteins.

Currently, the company conducts microbiological and clinical research, besides similar activities in biotechnology such as plant tissue culture.

The company had successfully developed anti-haemophilic factor VII, which helps prevent blood loss in haemophilic patients, specially during surgeries.

It has already introduced several plasma proteins, including Albumin (AlbuRel), intravenous immunoglobulin (ImunnoRel), Facto VIII (HemoRel-A) in the market.