HOMCO on a High as Profits Soar - The New Indian Express

HOMCO on a High as Profits Soar

Published: 13th January 2014 10:01 AM

Last Updated: 13th January 2014 10:01 AM

The Kerala State Homoeopathic Co-operative Pharmacy Limited (HOMCO), the only government-owned homoeopathic medicine manufacturing company in the country, is scaling new heights, with enhanced production and profit.

The company had registered an all-time high profit of Rs. 3 crore in the 2012-13 fiscal. And in the 2013-14 fiscal, HOMCO expects to make a turnover of around `17 crore, with the company already doing business to the tune of Rs. 14 crore in nine months.

However, the company is struggling to meet the high demand for medicines from all the states in the country and other nations as well.

High-quality medicines, with good manufacturing practice (GMP) certification, produced in the company are the highlight of HOMCO, said the company officials.

HOMCO managing director Dr P V Santhosh said the company had registered a turnover of Rs. 2.41 crore in 2005-06. “Within six years, the turnover increased by over five times, recording Rs. 12.36 crore in the 2012-13 fiscal. The hard work of employees and the management is the main reason behind our achievement. The state and Central governments have supported us in achieving new heights, he said.

Santhosh said the company has been producing medicines, including mother tinctures, dilutions, biochemic tablets, syrups, ointments, etc, for almost all diseases.

Around 298 varieties of mother tinctures and 716 dilutions are being prepared in the modernised laboratory of the factory. While the herbs and other plants are collected from West Bengal, some raw materials for preparing medicines are imported from Germany, he said. The company is also cultivating herbs in around 5.5 acres of land at Mundakkayam in Kottayam. Around 130 employees, including regular and casual staff, are working in the factory in a 24-hour shift to meet the demand, he said.

According to the company officials, paucity of space is the main constraint for the expansion of the factory.

The company was established in 1975 in 70 cents of land allotted at Pathirapally near Alappuzha. We have bought around 2 acres of land near the existing factory. A project for the expansion of the factory has been submitted before the government for its approval. Works in this regard will begin after getting the government nod, Santhosh  said. The company had gained ISO-9001 certification and GMP certification in 2008, he said.

The Drugs Control Administration has certified the analytical laboratory in the pharmacy as approved laboratory for testing homoeopathic medicines prepared in HOMCO as well as other pharmacies, Santhosh said.

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