PHARMACEUTICAL manufacturer and distributor Datlabs has engaged a private consultant from India to revive its intravenous fluids factory, which has been idle since 2006.
The pharmaceutical industry in India is the world’s third-largest in terms of volumes and is forecast to reach $50 billion in value by 2020.
“As you might know India is a giant in pharmaceutical drugs and we hope the consultant will bring the much-needed direction on how we can get back the plant into operation,” chief executive officer Todd Moyo said.
The company requires $2 million to refurbish the old plant and acquire new machinery for the factory.
Last month, Moyo said the firm was negotiating with South Africa’s Adcock Ingram for a partnership to revive the factory and setting up a new plant to manufacture ointments, syrups and tablets which would cost another $5 million.
The company requires a further $2,5 million for operations, including settling debts.
On the new product, CamphaCare, Moyo said the company was making efforts to export to the region.
“We received orders from some of countries long back. When we then tried to export the product we came across regulations which basically bar imports and promote local products,” he said.
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The company launched its new product in October last year after losing the franchise for Ingram’s Camphor Cream, a product of South Africa’s Tiger Brands.
The company is now producing at least half a million jars of the new product every month.
– The Source
