Chennai-based Bafna Pharmaceuticals, which manufactures drugs for iron deficiency under the Raricap brand, will diversify into the painkiller and anti-infective segments in the domestic market, according to a filing with the Bombay Stock Exchange.
The company will use spare capacity at its factories, Chairman and Managing Director Bafna Mahaveer Chand told Business Line.
The company will manufacture pain relievers Afenac-P tablets, Afenac TH, cough remedy Nocaf Syrup, Izabof Suspension and Izabof 250 and 500 mg tablets, said a release.
Poised for growth
Currently, anti-infectives constitute a Rs 12,500-crore market in the country, and is poised for growth, according to Hari Natarajan, Vice-President, Business Intelligence, AIOCS Pharmasofttech Awacs Ltd, a pharma research company.
Pain management is Rs 5,590-crore market and is the fifth-largest therapy segment in the country.
Sales of Raricap products more than doubled in FY13 to Rs 16.5 crore from Rs 7.7 crore during the previous year. Besides Raricap, Bafna produces oral antibiotic drugs at its two facilities near Chennai.
The Bafna stock touched a high of Rs 33.9 intra-day before ending the day in the negative at Rs 30.20 on the BSE.