Bafna Pharmaceuticals, a two-decade-old BSE listed company, engaged in manufacturing pharmaceutical formulations of non-betalactam products, has inaugurated its research and development (formulations) (FR&D) facility at Grantlyon, Chennai. Mike Nithavrianakis, British Deputy High Commissioner of Southern India, inaugurated the second facility at Grantlyon, near Redhills in Chennai. The company has a 100 per cent export-oriented unit at Madhavaram on the outskirts of Chennai.
Addressing visiting presspersons, Bafna Mahaveer Chand, Chairman and Managing Director said the FR&Dwas a state-of-the art facility for formulation and analytical development and was designed and equipped to meet the stringent international standards. Through this Rs. 12 crore facility Bafna Pharma will file dossiers for the growing U.S and UK and European and RoW markets. It will be a one-stop solution, Mr. Bafna said.
Bafna established two units in Chennai and is involved in contract manufacturing. The company has secured the manufacturing contract from a leading UK-pharmaceutical company for the production and sale of cholesterol lowering medical products. It at present held two approvals from the U.K and expected to receive seven approvals for developing products at the R&D facility, Mr. Bafna said.
In his inaugural address, Mr. Mike Nithavrianakis said more business opportunities were available in South India, especially in pharmaceuticals. U.K was establishing close relationship with experienced and disciplined investors and Bafna Pharmeucauticals had set an example in this regard, he said.
