Roselabs Bioscience, part of the Ahmedabad-based Roselabs Group, today said it is targeting to launch formulated pre-filled (PFL) syringes in over 100 countries by the end of next year.
“We are looking at entering over 100 countries by the end of 2014 for our formulated PFL syringes,” Roselabs Bioscience Director, Zameer Agarwal said.
The key markets will be in Africa, Latin America and Asia. The company is also planning to enter the regulated markets and will begin with US, he added.
“We have commercialised 26 branded formulations in the PFL segment in the Indian market and we plan to export all of them to the overseas market,” Agarwal said.
The company will be filing around five abbreviated new drug applications (ANDAs) in the United States by February 2014, he added.
“The ANDAs will be in the therapeutic segments of cardiac care, gynaecology, pain management,” Agarwal said.
As part of the company’s expansion plans, it had 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.
The firm’s facility near Ahmedabad has capabilities to make both glass and polymer syringes.
“The existing and potential market for pre-filled syringes in India and globally is huge,” Agarwal said.
On being asked how the company was planning to raise funds for expansion, Agarwal said it will be mainly through private equity route and the company is looking for strategic investor for this.
Roselabs Bioscience is also engaged in contract manufacturing for leading pharmaceutical companies in the country.