Mankind Pharma’s new plant to be opened by next December
Mankind Pharma, best known for over-the-counter sexual wellness products, is planning to open its new plant in Paonta Sahib, Himachal Pradesh, by December next year. Coming up at an estimated cost of ?130 crore, the plant will have three manufacturing lines catering mostly to tablets, opthalmics and injectables. The facility will have an annual capacity of 480 crore pieces of tablets; 6 crore ophthalmic solution bottles (of 10 ml and 5 ml); and 36 crore ampules for injectables. Second unit This will be Mankind’s second plant. The first is also located in Paonta Sahib, which has two units catering to tablets and soft capsules, while another unit makes ampules. According to Arjun Juneja, Director, Mankind Pharma, the company is open to setting up new plants in other places. Options are being explored in Sikkim and Himachal Pradesh, where the company can get tax benefits, he told BusinessLine. Growth projections The Delhi-based company, which reported a turnover of ?2,700 crore in 2013-14, is looking at an over 26 per cent annual growth this fiscal. It is looking at a revenue of ?3,400 crore in FY-15, with an aim to be among the top three pharma companies in the country by 2018. OTC products contribute up to 10 per cent of the company’s revenue. New categories Mankind is also planning to foray into new and adjacent categories, including the household “cuts and wounds” segment. Although the segment has players like ‘Burnol’, ‘Soframycin’ and ‘Dr Morepen’s’, Juneja feels there is a gap that can be explored. “We will not be competing in a cluttered category or one that has 5 to 10 players.” Cardio-vascular and neuro-psychriatic drugs are the other growth categories, he added. The company also has plans to enter the oncology segment some time next year.