Teva to enter India through JV with P&G

Source: Business standard, Jul 26, 2012

Ahmedabad:Israel’s Teva Pharmaceutical Industries (TPI) will enter India through a joint venture (JV) with US-based Proctor & Gamble (P&G) and set up its first manufacturing facility at Sanand in Gujarat with an initial investment of Rs 250 crore.

“TPI and P&G joint venture, P&G Teva, would set up an over-the-counter (OTC) drug manufacturing facility at Sanand with an initial investment of Rs 250 crore,” Gujarat Food and Drug Control Administration Commissioner H G Koshia said.

“The total proposed investment in Gujarat by the JV is around Rs 500 crore. They would initially hire 500 people, which could go up to 1,000,” he said.

Around 15 acres of land for the project has already been acquired, Koshia said.

A formal announcement is likely to be made after the signing of a memorandum of understanding with the state government during the Vibrant Gujarat Global Summit-2013 scheduled for January next year, official sources said.

“The facility to come up on 15 acres of land is proposed to have two separate lines, one for manufacturing Ayurvedic drugs and another for allopathic medicines,” he said.

A joint delegation of P&G Teva recently visited Gujarat and evinced interest in setting up a manufacturing facility here.

“A four-member delegation led by vice-president (corporate quality) of Teva, Karin Baer, met us and sought details of setting up a facility to manufacture OTC products like cough syrups, inhalers, among others,” Koshia said.

Teva Assistant Vice-President Rajiv Palliwal, Senior Director OTC Operations Haresh Gill and Seema Sundereshan, a senior scientist from P&G were part of the delegation, he said.

The proposed facility at Sanand would have state-of-the-art equipment and adhere to good manufacturing practices norms to make products both for Indian and overseas market, Koshia said.

A lot of global companies have evinced interest in setting up their facilities in Gujarat, an established hub for pharmaceutical companies, especially SMEs.

NYSE-listed Teva Pharmaceutical is the number one global generic company, having a portfolio of 1,480 molecules with operations in 60 countries and distribution network in around 100 countries.

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