Published On: 11, Dec 2017 | Source: Hindustantimes
Leading diabetes care pharmaceutical company Novo Nordisk in partnership with Torrent Pharma on Monday inaugurated an enhanced facility in Gujarat and looking at launching more new products in India.
“With the inauguration of second phase of the manufacturing facility at Indrad in Gujarat, we will increase our insulin producing capacity by 35 per cent to meet the growing demand,” Novo Nordisk managing director Melvin D’souza told PTI here.
India has 73 million patients suffering from diabetes and Novo Nordisk claims it holds 60 per cent marketshare of the Rs 2,200 crore insulin market in the country.
The expanded Indrad facility will help in meeting nearly 75 per cent of the country’s insulin market, D’souza explained.
Through this partnership, they aim to ensure the provision of cost-effective, high quality medication, he said.
Through its manufacturing partner Torrent Pharma, the company also plans to bring more insulin products in the Indian market.
“To meet the demands of the insulin market in India growing at 15 per cent CAGR, we are looking at launching more advanced insulin products in the market in coming years,” said Frederik Kier, senior vice president, Region AAMEO, Novo Nordisk.
He said the company is committed to address the issue by working with likeminded stakeholders to change diabetes, Kier said.
The partner, Torrent Pharmaceuticals said it has already invested Rs 60 crore in this facility.