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May 3, 2001
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Money > Business Headlines > Report May 3, 2001 |
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Max Pharma gets US, Europe process patentsK Giriprakash Max Pharma, part of Max India, has filed process patents for one of its largest-selling bulk drugs, Carbamazepine (an anti-epileptic drug) and Roxithromycin (an anti-infection drug) in the US and Europe and has received approvals for sourcing these drugs into these two markets. "Both of these active pharmaceutical ingredients have a huge market potential," Max India chairman Analjit Singh said. At present, Carbamazepine has around 10 per cent to 15 per cent marketshare worldwide. The market size for the drug is around 1,200 tonne. In the domestic market, its market share is around 70 per cent. The three main regulated markets of USA, Europe and Japan constitute nearly 80 per cent of the total market. "We can now tap these regulated markets for our leading pharmaceutical substances which were till now out of reach for us," a top company official said. The process patents for both these drugs were filed sometime ago and these are expected soon. Max Pharma manufactures bulk drugs namely Carbamazepine, Azithromycin and Roxithromycin. Max India's main business comprises bulk pharmaceuticals and specialty products comprising BOPP (biaxially oriented polypropylene), metallised films and leather finishing foils. Besides, the company has joint ventures in areas of cellular mobile telephony, radio paging services, VSAT services, penicillin fermentation, intermediates and bulk drugs, electronic components distribution and plating chemicals. As per independent estimates, the domestic healthcare industry is expected to grow at more than 15 per cent in the next two years. India is expected to become major player in the world's healthcare industry in the next 5 years. Max which recently restructured its organisation identified three sectors namely health care, insurance and information technology as the future growth opportunities. In the healthcare segment, Max introduced an integrated healthcare service recently. In the life insurance sector, it has tied up with New York Life Insurance Company for a 74: 26 joint venture. In the information technology segment, it recently launched Max Ateev, an information application solutions company which specialises in portal tools, e-commerce tools and knowledge management tools. It invested around $4 million for 15 per cent equity stake in MindCrossing Inc based in the US which is an infrastructure and content provider for e-business. Powered by YOU MAY ALSO WANT TO READ:
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