Vaccine major Indian Immunologicals Limited (IIL) is foraying into manufacture of bovine serum, a critical raw material for animal vaccines, by setting up a subsidiary in New Zealand.
A company in New Zealand has been acquired and its plant, located 80 km from Auckland, has a capacity to make 300 tonnes, officials familiar with the development said on Tuesday.
Estimating the investment to be around Rs.10 crore, an official said production at the plant, under the ILL management, was expected to begin in April 2015. Pristine Biologicals (NZ) Ltd is a wholly owned subsidiary, he added.
“The overseas venture will help in strengthening IIL's position as the leader in animal vaccines. It will help improving cost-competitiveness in manufacture of animal vaccines exported by us to over 50 countries in the Middle East, South America, Africa and CIS countries,” said Managing Director K.V.Balasubramaniam.
A release on the new venture said IIL is one of the major importers of bovine serum. It requires 200 tonnes and procures the same from New Zealand and Australia, two countries free of animal diseases listed by OIE (The World Organisation for Animal Health).
“With this new facility, we will be able to manufacture our own serum and become a robust player in animal vaccines with many value-added products,” Mr.Balasubramaniam said.
A subsidiary of National Dairy Development Board, IIL is the largest veterinary biological company and among the top three animal health companies in India. Apart from being the world’s largest manufacturer of Foot and Mouth Disease vaccine, it is the second largest domestic vaccine player in the human vaccine segment in India, the release said.
