New Delhi: The US-based Procter & Gamble (P&G) and Israel's Teva Pharmaceutical Industries plan to enter India through a joint venture (JV) by setting up their first manufacturing facility at Sanand, Gujarat, with an initial investment of Rs 250 crore (US$ 44.67 million).
The manufacturing facility is planned on 15 acres and is proposed to have two separate lines, one for manufacturing Ayurvedic drugs and another for allopathic medicines. High-tech equipment and adhering to Good Manufacturing Practices (GMP) norms to make products both for Indian and overseas market will be used.
"TPI and P&G joint venture P&G Teva would set up over-the-counter (OTC) drug manufacturing facility at Sanand with an initial investment of US$ 44.67 million," according to H G Kohsia, Commissioner, Food and Drug Control Administration (FDCA), Gujarat.
"The total proposed investment in Gujarat by the venture is around Rs 500 crore (US$ 89.37 million). It would initially hire 500 people, which could go up to 1,000," Kohsia added. In addition, the proposed facility at Sanand would have high-tech equipment and will adhere to Good Manufacturing Practices (GMP) norms to make products both for Indian and overseas market, Mr Koshia said.
A memorandum of understanding (MoU) will be signed with the State Government during the Vibrant Gujarat Global Summit-2013 scheduled in January 2013. NYSE-listed Teva is the top generic pharma company with presence in 60 countries.
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