HOME   
   NEWS   
   BUSINESS   
   CRICKET   
   SPORTS   
   MOVIES   
   NET GUIDE   
   SHOPPING   
   BLOGS  
   ASTROLOGY  
   MATCHMAKER  


Search:



The Web

Rediff








Business
Portfolio Tracker
Business News
Specials
Columns
Market Report
Mutual Funds
Interviews
Tutorials
Message Board
Stock Talk



Home > Business > Business Headline > Report

Drug discovery boutique set up

BS Bureau in Mumbai / New Delhi | March 25, 2003 12:34 IST

Three Indian pharmaceutical companies, the Chennai-based Shasun Chemicals and Drugs Ltd, the Hyderabad-based Suven Pharmaceuticals Ltd and the Mumbai-based Innovasynth Technologies Ltd have joined hands in a strategic partnership to provide drug discovery to distribution services to pharmaceutical companies.

US-based $100 million Austin Chemical Inc will act as the logistics and marketing arm of this alliance.

Business for this alliance could originate at any level and the partners propose to present a single face to global pharmaceutical majors, as a one-stop solution provider that can handle close to 95 per cent of the entire discovery to distribution process.

Venkat Jasti, managing director, Suven Pharma said, "It is a first-of-its-kind alliance in the Indian pharmaceuticals industry."

Don Butler, chief scientific officer, Austin Chemical, would work with the chemists in the alliance to develop innovative chemistry and processes.

The Chicago-based Austin Chemical already has separate collaborative arrangements with Shasun Chemicals and Innovasynth Technologies.

Shasun Chemicals specialises in bulk drugs and formulations.

Suven Pharma addresses the pre-clinic and clinical testing end of the business. It has been focusing on contract research and manufacturing services and has lined up Rs 40 crore (Rs 400 million) new investment to build world-class manufacturing and research facilities.

Innovasynth comes with its domain strength in contract R&D and manufacturing. Innovasynth, the former chemicals division of India Organic Chemicals Ltd, has earned a reputation of being a supplier of various protected Nucleosides.

The Rs 35-crore (Rs billion) company has a presence in the fields of pharmaceuticals, perfumes, agrochemicals and fine and speciality chemicals.

The alliance is in the process of developing systems that would help integrate personnel, capacities and capabilities to offer a wide range of products and services, FTEs (full time equivalent) in the discovery and early stage development, discovery support services, development of new chemical entities for clinical studies, and to conduct pre-clinical and clinical trials leading to the manufacture, supply and distribution of drugs.

The alliance would comprise 200 scientists and a 1,000-member support team.

The alliance will also focus on technology-based small pharmaceutical and biopharma firms in Europe and the US to help the accelerate their drug development efforts through cost effective services.

Jasti said, "Typically we are looking at the top 20 innovators (pharmaceutical majors) for possible business. Partnering with Austin Chemicals, which is based in the US and has over 20 years of experience in this business, will enhance the prospect of the alliance."

The members of the alliance were unable to provide any concrete numbers about the volume of business they expect from this partnership.

However, owing to resources being pooled, a prospective customer can expect to save up to 35 per cent of the cost of developing a new drug.


Powered by



Article Tools

Email this Article

Printer-Friendly Format

Letter to the Editor



Related Stories


Ranbaxy slips

Infrastructure status to healthcare

Cipla at receiving end



People Who Read This Also Read


Coke, Pepsi godowns attacked in AP

HPCL, BPCL up

Implement VAT in 2 phases: Assocham







HOME   
   NEWS   
   BUSINESS   
   CRICKET   
   SPORTS   
   MOVIES   
   NET GUIDE   
   SHOPPING   
   BLOGS  
   ASTROLOGY  
   MATCHMAKER  
© 2003 rediff.com India Limited. All Rights Reserved.