SS Organics strikes deal with Ranbaxy

City-based SS Organics Limited announced yesterday that it had entered into marketing tie-ups with Ranbaxy Laboratories Limited. The outcome of this agreement would immensely benefit the company in improving its operations in addition to contributing higher profitability during the current financial year, the company said.

SS Organics is basically engaged in manufacture of omeprazole, lansoprazole, esomeprazole and 7ADCA (intermediate of cephalosporins) apart from undertaking job works for reputed companies.

The company carries out research and development in process development. During the current financial year, the company has placed more thrust on R&D in developing new molecules and intermediates.

The company informed that it had withstood and overcome several hurdles in the past and was now poised for better growth. The overall production capacity has been up adding more reactors and balancing equipments in order to meet the market challenges, the company said.

It has started upgrading its facilities and is carrying out documentation to meet the cGMP standards. For the 18 months ended September 30, 2003, SS Organics has reported a net profit of Rs 6.54 crore on a total income of Rs 16.6 crore. For the financial year ended March 31, 2002, the company recorded a net profit of Rs 1.33 crore and a total income of Rs 9.81 crore.

The company has called for annual general meeting (AGM) here on March 29 to consider and adopt the audited profit and loss account for the period ended September 30, 2003. The AGM will also consider the appointment of two new directors in the place of outgoing directors, P V Subrahmanyam and P Ramachandra Gupta.