Usha Sharma – Mumbai
The $20 billion Israel-based pharmaceutical company Teva and $80 billion US-based FMCG company Proctor & Gamble (P&G) have recently formed a joint venture (JV) company in order to foray into the Indian market on a larger scale. Under the JV, a total of Rs 500 crore will be invested for setting up two manufacturing units, one each for allopathy and ayurvedic medicines, at Sanand in Gujarat Industrial Development Corporation near the Tata Nano project. Rs 250 crore will be invested in the first phase.
Both the plants will cater to the domestic as well as international markets. Commercial shipment is likely to begin from mid-2013. There are plans to launch OTC products and the full range of Vicks products viz, inhaler, balm, cough drops and cold syrups.
Karin Bare, Vice President- Corporate Quality, Teva Pharmaceutical with his team recently inspected the land and finalised the deal.
Sharing details on the Teva-P&G project, Dr HG Koshia, Commissioner, Gujarat Food and Drug Control Administration (FDCA) revealed, “Recently, a team from Teva and P&G visited the Gujarat FDCA office and made enquiries regarding the land, Drugs and Cosmetics Act, manpower strength and machinery. We have provided information related to the rules in force for building infrastructure, environment-related requirements for production, as well quality control facilities required. We have asked them to submit the blueprint of the plants they plan to set up in the 15 acres they have acquired. We expect to get the blueprints shortly and once we receive them, we will inspect them and give the green signal if everything is as per norms. They will then be able to start construction work.”
“Ayurvedic products are not easily accepted globally and to solve this issue, the JV company will manufacture ayurvedic medicines as per pharmacopoeia norms for allopathic medicines. This will help meet global standards ,” Koshia added.
Koshia further added, “Being the drug controller in Gujarat, it is my responsibility to check the quality of the drugs and take strict action against spurious drug manufacturers. The recent deal of Teva-P&G will generate employment in the state as the JV has decided to hire 500 people in the first phase. By setting up the facility in India, the Indian ancillary industry will also get better business opportunities.”
Presently, Teva has a 1000 plus product basket and a global headcount of 60,000 people.
- Advertisement -
