INDIA'S NATCO TO BUILD NEW ANTI-CANCER PRODUCTION SITE

According to company sources, Indian generics producer Natco Pharma is to invest some INL100mn (US$2.28mn) on a new unit to produce active ingredients for anti-cancer drugs. The company has indicated that the new site, due to begin production in mid-2006, could be built near established industry hubs in Andhra Pradesh and Chennai.

Meanwhile, the company claims it could also open a new peptides manufacturing facility, following a recent INR587mn (US$13.5mn) foreign currency bond issue. Natco is also seeking FDA approval for an existing formulation plant, which has so far received clearance from UK and Danish regulators. Notably, the company, which reported turnover of some US$34.91mn for 2003, has welcomed India's new WTO-compliant patent legislation amid plans to launch up to 30 products this year.