Balaxi Pharma performs groundbreaking ceremony for manufacturing unit in Jadcherla
HYDERABAD: Leading IPR branded pharmaceutical company, Balaxi Pharmaceuticals Limited performed the groundbreaking ceremony of its US-FDA, EU-GMP, WHO-compliant pharmaceutical formulation plant here, in Jadcherla.
The company will be investing Rs. 85 crores in the state-of-the-art facility over a period of one year that will enable them to enter European markets as well as enhancing margins in current markets. Mumbai-based Spectrum Pharmatech Consultant Private Limited has been appointed by the company for the smooth and time bound project execution.
The facility housed acrosss 1,50,00 sq ft will provide direct and indirect employment to over 350 individuals, with a capacity of manufacturing 1 billion tablets, 500 million capsules, and 27 million liquid injections per annum.
The plant’s proposed completion is scheduled for March 2024 and will be abundantly equipped to cater to the demands of global markets. Adhering to global standards for products and services, production from its planned facility will find immediate traction from established demand in existing markets. The robust production will allow backward integration of its supply chain and is expected to start by June 2024.
On occasion of the groundbreaking ceremony, Mr. Ashish Maheshwari, Managing Director, Balaxi Pharmaceuticals Limited, said, “For us, the plant commission in Telangana is much more than just a facility, it is a true milestone that will enable us to move from semi regulated to regulated markets. Balaxi will establish a manufacturing ecosystem that affords better control, improves regulatory processes and reduces time to market for new product launches.”
“This facility will also drive backward integration of the supply chain to these countries, currently outsourced through contract manufacturing relationships. It will produce higher efficacy products that enjoy greater acceptance and enhanced profit margins. From the operations standpoint, over the medium term, through this facility, we see several new market opportunities opening up for our product lines,” he added.
Mr. Swaminathan, MD of Spectrum Pharma Consultants also informed that “the entire timeline and milestones of the project have been meticulously planned and the project will be ready by March 2024.”
