Belgium based Helvoet Pharma, part of the Daetwyler Group, is entering India by setting up its first greenfield production facility in Pune. The company has invested approximately $26.5m for the plant.
The plant will manufacture components for primary packaging of parenteral pharmaceutical and diagnostic drugs and will produce four billion components at full capacity by end of 2014 and one billion in the first year. Products manufactured in Pune plant will be exported to US and other European markets.
The plant will be operational by 2012 and the new facility will cater to the needs of the local pharmaceutical industry and globally operating pharmaceutical customers in India and other markets.
Daetwyler Group CEO and head technical components Paul Haelg stated that Helvoet Pharma’s decision to build its own manufacturing plant in India has been made to leverage the country’s position as the centre of excellence for generic and branded pharmaceutical products.
India has the highest number of US FDA approved plants outside the USA and is expected to become a significant healthcare consumer market and has set a benchmark in this market.