NEW DELHI: Roselabs Group firms Roselabs Bioscience and Roselabs Polymers today said the group has invested over Rs 400 crore to set up a pre-filled syringes making facility near Ahmedabad with a capacity to manufacture 8 lakh syringes per day.
Commenting on the development, Roselabs Bioscience Director Zameer Agarwal said: "The unique selling proposition of Roselabs is that it offers a composite PFS solution under one roof." The existing and potential market for pre-filled syringes in India and globally is huge, he added.
The firm's facility near Ahmedabad has capabilities to make both glass and polymer (Cyclic Olefin Copolymer) syringes, according to a company statement.
Speaking to reporters at Ahmedabad, Agarwal said: "The unique selling preposition of Roselabs is that it offers a composite solution under one roof. The existing and potential market for pre-filled syringes in India and globally is huge."
Roselab Biosciences manufactures glass pre-filled syringes, pre-fillable syringes, formulations and cytotoxic Active Pharmaceutical Ingredients (API), while Roselab Polymers delivers sterile, clean and ready to fill pre-fillable polymer syringes.
The two companies of the Roselab group target a Rs 100 crore turnover by this fiscal year end and they have commercialised 26 products in the PFS segment in India. "In our research and development wing, 81 molecules have been sucessfully tested for stability. We have commercialised around 26 molecules in the Indian market under our own brand name and many more are in the offering," Agarwal said. "Out of 26 molecules commercialised so far, seven molecules are in gynaecology and another nine are in cardiac care," he said.
The company is also engaged in contract manufacturing for multinationals and expects to get regulatory approvals from around 40 countries. As per industry estimates, the Indian PFS market is less than one per cent of the world syringe market and has a huge potential for growth.
In 2010, an estimated 2.2 billion PFS units were sold globally, which is estimated to rise to 3.5 billion units by 2015, as per industry estimates. "Nearly 95 per cent of PFS products are imported into India by around 25 major Indian pharma companies," Agarwal said.
The company competes with some of prominent global pharma companies like Stevanto group, Nipro, Weigao, Gerresheimer, Schott and Stelmi, amongst others.