Shasun's foray into biotech segment

By Our Corporate Reporter

CHENNAI, NOV. 13. The Chennai-based Shasun Chemicals and Drugs plans to enter the biotechnology field by establishing a biotech laboratory involving an outlay of over Rs. 1.5 crores in its R & D facility here.

Mr. Vimal Kumar, Director-Finance, said the state-of-the-art facility would be in operation by year end. The company was planning to enter into therapeutic proteins segment and a memorandum of understanding (MoU) had been signed with the Centre for Biotechbology, Jawaharlal Nehru University, New Delhi, for some hi-tech products. For future R & D efforts in biotech area, Shasun was proposing to have a tie up with multinational companies. A medium scale fermentation plant was also to be set up in the near future, Mr. Kumar said.

Shasun has already established its presence in the field of pharmaceuticals and bulk drugs. The company has put up a chemical laboratory and have built up the requisite technical team to work on various projects.

For the half year ended September 30, 2001, the company has reported a revenue of Rs. 101 crores against Rs. 82 crores in the corresponding period last year. It achieved a gross profit of Rs. 13.73 crores against Rs. 14.22 crores and a profit after tax of Rs. 3.06 crores against Rs. 5.54 crores.

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Section  : Business
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