HYDERABAD: Balaxi Pharmaceuticals Limited, a leading IPR-branded pharmaceutical company, performed the groundbreaking ceremony of its US-FDA, EU-GMP and WHO Geneva-compliant pharmaceutical formulation plant in Jadcherla of Mahbubnagar district on Wednesday. It will be investing Rs 85 crore in the state-of-the-art facility over a period of one year, enabling them to enter European markets as well as enhance margins in current markets.
To drive this initiative forward, a leading consulting firm, Spectrum Pharmatech Consultant Private Limited, has been appointed for time-bound project execution. The plant is expected to generate 350 direct and indirect jobs. This facility is housed across 1,50,000 square feet of land with a per-annum capacity to manufacture 1 billion tablets, 500 million capsules and 27 million liquid injections.
The construction of the plant is set to be completed by March 2024. Adhering to global standards for products and services, production from its planned facility will find immediate traction from established demand in existing markets. The robust production will allow backward integration of its supply chain and is expected to start by June 2024.
Making its mark in the international market, the company has a unique “Produce, Stock, and Sell” business model. The company focuses on frontier markets with a vast and growing portfolio of 745 product registrations in six countries and 646 new registrations submitted or in the pipeline across multiple therapeutic segments.
Ashish Maheshwari, Managing Director of Balaxi Pharmaceuticals Limited, said, “For us, the plant commission in Telangana is much more than just a facility, it is a true milestone for Balaxi Pharmaceuticals that will enable us to move from semi-regulated to regulated markets. Balaxi will establish a manufacturing ecosystem that affords better control, improves regulatory processes and reduces time to market for new product launches.”