Ind-Swift Labs aims to touch Rs 1500cr turnover by 2015

Drug firm Ind-Swift Laboratories has set a target of achieving revenues of Rs 1,500 crore by 2015 with overseas markets like Japan, the European Union and the United States being the main growth drivers.

"We expect to achieve revenues of Rs 1,500 crore by 2015. European Union, Japan, Australia and US will be the main drivers of growth for future," Ind-Swift Laboratories Vice Chairman cum Managing Director NR Munjal told PTI.

Ind-Swift Laboratories is currently witnessing 15 per cent to 20 per cent growth, he added.

"The current revenues of the company at present stand at over Rs 1,000 crore," Munjal said.

The main focus of the business for Ind-Swift laboratories continues to be its active pharmaceuticals Ingredients (API) business, he added.

Established in 1995, Ind-Swift's business model is focussed on domestic market and high-value mature regulated markets along with considerable focus on the emerging markets as well.

The accreditations of the company's facilities from the US Food and Drug Administration (USFDA) for five products and Pharmaceuticals and Medical Devices Agency (PMDA), Japan for two products have boosted the efforts to tap these highly regulated markets for products, the company said.

In July this year, the company forayed in the contract research and manufacturing services (CRAMS) segment and received the first order from a European pharmaceutical company.

"The order is for developing a non-infringing process for a anti-diabetes molecule that is going off patent in next three to four years," a spokesperson of the Chandigarh based firm had then said.

The Chandigarh based drug firm has manufacturing sites at six different locations across India.