Bajaj Healthcare forays into opiate processing, receives two tenders from govt
New Delhi [India], July 13 (ANI): Bajaj Healthcare has forayed into highly-regulated opiate processing as it received two tenders from the central government for manufacturing of concentrated poppy straw and alkaloids/active pharmaceutical ingredients (APIs) from unlanced poppy capsules along with straw through CPS-Reg and opium gum.
ANI
Jul 13, 2022 12:44 IST
New Delhi [India], July 13 (ANI): Bajaj Healthcare has forayed into highly-regulated opiate processing as it received two tenders from the central government for manufacturing of concentrated poppy straw and alkaloids/active pharmaceutical ingredients (APIs) from unlanced poppy capsules along with straw through CPS-Reg and opium gum.
Letter of Award includes manufacturing of alkaloids and APIs from the processing of 500 tonnes of the unlanced poppy capsule along with straw, besides alkaloids and APIs from the processing of 100 tonnes of opium gum on an annual basis, the company said in a statement on Wednesday.
"The APIs will be manufactured under highly regulated conditions and under strict adherence to protocols prescribed by the government of India...The tender is expected to bring an overall margin accretion to the company mainly on account of better capacity utilization of the existing plant. The derivate APIs and extracts are normally used in a wide range of pharmaceutical applications," the statement said.
The company plans to execute both these tenders at their manufacturing unit located at Savli in Gujarat.
"It is with great pride I would like to announce that BHL has successfully ventured into the highly regulated category of Opiate processing for the Government of India. We have been awarded two tenders for the supply of Opium derived Alkaloids & APIs to the GOI, under long-term contracts and expect successive orders under similar tenders, to scale up to the processing of 6,000 MT of Poppy Straw & Opium Gum in the next 5 years," said Anil Jain, Joint Managing Director, Bajaj Healthcare.
The Indian Opiates market holds good potential, and the receipt of this order opens the doors to a new business vertical with better margins as for the first time in history that the government has deregulated opiate processing to a private player, Jain said.
"The order is a part of our strategy towards building our portfolio of opiates and accessing strong capabilities in this segment," Jain added.
Established in 1993, the pharma firm has a strong presence in countries like Europe, the US, Australia, Africa, the Middle East, and South America. (ANI)
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