Shasun Pharmaceuticals has planned to make an expansion of its business in two years by investing Rs. 100 crore. A portion of the fund amounting to $6 million will be borrowed from external commercial sources.
Shasun Pharma will be involved in a nanotechnology-based project for curing cancer in a joint venture with US-based Nanoparticle Biochem along with University of Missouri’s support. The company will invest $2 million in the nanotechnology-based project in the next two years, apart from its previous investment of $300,000. In addition, Nanoparticle Biochem is planning to introduce a gel-like product using nano-fibers for healing wounds.
S. Abhaya Kumar, Managing Director of Shasun Pharma, stated that on injecting radioactive gold nanoparticles into solid tumor, the tumor cell can be destroyed in 30 days without the requirement of external radiotherapy or chemotherapy. The clinical trials will be performed on pigs and dogs during the month of August. Shasun Pharma will hold complete rights on this newly developed product.
The company chiefly produces APIs for large number of pharmaceutical firms world-wide. Recently, it has stepped into the branded pharmaceutical market in Tamil Nadu, India, by introducing a blood-thinning drug and a product for diabetes. It is further planning to introduce an over-the-counter (OTC) pain ointment and products for cholesterol control and renal failure.
The company has manufacturing plants in Cuddalore and Puducherry and also plans to establish a production facility in Vizag. Its chief business of a drug called ibuprofen will include more derivatives by 2011.