MeruvaxPharma plans new unit in Telangana
To set up manufacturing unit with an investment of Rs 30 crore
Hyderabad: City-based MeruvaxPharma, which is into making active pharmaceutical ingredients (APIs), has drawn up plans to set up a new manufacturing unit with an investment of Rs 30 crore, said Dr Mohan Goli, its founder and chief executive officer.
APIs refer to the primary ingredient or the biologically active component of a drug product. “We have two locations in mind – Pharma City and near Jedcherla. We will finalise the location soon,” he said.
The company has plans to get into generics, the pharmaceutical drugs that contains the same chemical substance as a drug that was originally protected by chemical patents. It also has plans to tap into formulations, particularly syrups and tablets, later. The proposed manufacturing plant will come handy then as the product portfolio changes. Currently, it has a unit at Jeedimetla, he said.
The company is now into chemical process development, medicinal chemistry, custom synthesis, API intermediates and impurity profiles of drug molecules among others. Some of the products are exported to Italy, Israel, South Africa, US and UK, said the chemist, who is an alumni of Osmania University.
The company has a R&D wing in the US with about 50 people. It currently employs about 170 people in Hyderabad and the headcount could go up more than five-fold when the new manufacturing unit gets ready. It will have facilities for housing research and development, pilot plant and production units, he said.
“Our expansion plans have been slowed down due to Covid. We think now it will be ready in an one year or so,” said Goli, who hails from Vemulawada, Rajanna-Sircilla.
Goli went to the US to work as a scientist and later in 2011 started his own company with focus on research and development. He also set up an IT company that has operations in Hyderabad, the US and the UK. Its focus is on banking, financial and cyber security domains and has about 1,450 people working including 200 in Hyderabad.
Among others, Goli through his Aadhaya Goli Foundation, works to support education of students, particularly from Telangana.
Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.
Click to follow Telangana Today Facebook page and Twitter .
