Pharmaceuticals manufacturer Indoco Remedies has won a major contract to supply Allopurinol, used to bring down uric acid in the blood, from Germany.
The two-year contract will generate around Rs 70 cr per year for the company.
“This is Indoco’s first own label product in Europe,” said Managing Director Aditi Kare Panandikar.
“Germany is totally a tender (based) business and Indoco has won almost 80-85% tenders for Allopurinol.”
She said that chances of winning a repeat order or tender for the product is very high if the company can prove itself to be competitive during the period of the first tender supply.
“We believe, because of backward integration, we will remain competitive and completely in control of supplies,” she added.
The supplies to Germany will begin in January and continue till end of 2022.
The company will consume around 100 tons of APIs per year for fulfilling the contract.
Indoco manufactures Allopurinol API at its new API manufacturing site at Patalganga. The new API site has a capacity to manufacture 25 tons of Allopurinol per month or 300 tons per year.
Altogether, the Company has 9 manufacturing facilities, 6 of which are for FDFs and 3 for APIs. It also has an R&D Centre and a contract research facility.
The USD 145 mln company employs over 5,500 people including more than 300 scientists.
The company claims to generate more than 70 million prescriptions per year from over 300,000 doctors.
In India, the company has 9 domestic marketing divisions with a strong presence in respiratory, anti-infective, dental, pain management, gastro-intestinal, ophthalmic, cardiovascular, anti-diabetic and anti-obesity specialties.
Some of the company’s brands include Cyclopam, Febrex Plus, Sensodent-K, Oxipod, Cital, ATM, Cloben-G, Sensoform, Carmicide and Bactogard.
High levels of uric acid in the blood leads to joint pain/gout, and kidney stones.