Global initiative of Nestor Pharmaceuticals Ltd receives MHRAApril 10th, 2008 - 1:40 pm ICT by admin
New Delhi, Apr 10 (ANI/Business Wire India): Nestor UK Ltd, a part of Nestor pharmaceuticals Ltd, one of India’s leading pharmaceutical companies has acquired MHRA which will enable Nestor’s foray into supply of medicines to the regulated market of European region.
Nestor UK took over the full facility of US pharmaceutical giant Schering - Plough at Mildenhall Suffolk in the UK in the year 2006.
Nestor has invested nearly PS10 million in renovating the plant to make it one of the advance plants of UK.
With receiving of MHRA, Nestor UK Ltd becomes one of the first Indian pharmaceutical companies in India that had invested in a facility in UK, revamped and upgraded the site to be able to meet required standards to further apply for MHRA.
Nestor projects the annual capacity of the plant to produce over one billion tablets, 500 tons of semi solids and 15 million beta lactum (API) capsules.
Explaining about the future plans of first global initiative of the organization, Rahul Sehgal, President - Nestor pharmaceuticals Ltd said,” By acquiring the plant previously owned by Schering - Plough, Nestor has been able to create additional capacity in tablets, semi solids and Beta Lactums presently. In future, we would like to add capacity for manufacturing syrups, dry powders, and non beta lactums to augment the plant’s full capacity.”
“We also have plans to further expand into the neighboring European markets like Germany and France in the first stage of our expansion in this region. Our first year projections are set as PS10 million and aim is to register a 40 percent growth y-o-y. We also plan to establish leads in Beta Lactum and semi solids (ointments and creams) manufacturing. Nestor also envisions producing controlled substance pharmaceutical formulations for the UK market so as put the plant to its optimum and best use,” Sehgal added.
The new base for Nestor, Mildenhall had witnessed a long tradition of pharmaceutical manufacturing. Its central location with proximity to ports, roadwork and knowledge centers like University of East Anglia’s medical and pharmaceutical college in Norwich made it an ideal choice for Nestor.
The eight acre facility rechristened as Nestor UK Ltd went on stream in February 2008 and is also amongst the largest for storing controlled drugs. Nestor UK is set to impact Europe through channel partnerships with branded drug-store chains. Nestor products will soon be visible on European shelves.
Nestor has also spread itself to other parts of the world where the requirements of medicines is acute. Nostrum Pharmaceuticals, a wholly owned subsidiary of Nestor was set up in Africa in the year 2005 to be able to meet the large volumes demand of low-cost yet quality drugs.
It has since then made a substantial difference to public health through its technology-driven facility in Lagos. Sixteen channel partners have set up a distribution network to reach 130 million Nigerians.
Nostrum is set to replicate its Nigerian experience across Central, North and East Africa by end of year 2009. (ANI)
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