Clariant set up healthcare packaging plant in India

Clariant to set up healthcare packaging plant in India

10:26 AM, 2nd December 2015
Clariant to set up healthcare packaging plant in India
Dr Deepak Parikh, region president – India, Clariant. (File photo)

MUTTENZ, SWITZERLAND: Clariant AG said that it has plans to invest CHF 10 million in a new healthcare packaging manufacturing plant in Cuddalore, Tamil Nadu state in India.

The new plant will initially produce desiccant canisters and packets, which are inserted into pharmaceutical packaging to control moisture and protect the stability of the medicine during shelf life.

“India is the largest provider of generic drugs globally, making it a key market for Clariant’s desiccant products,” said Ketan Premani, head of healthcare packaging sales, Clariant India.

“The new manufacturing facility is in alignment with our overall growth strategy in the country. It will enable us to enhance our medical specialties business and offer end-to-end solutions to our existing as well as potential customers,” said Dr Deepak Parikh, region president – India, Clariant.

The new plant will primarily serve globally active generic and branded pharmaceutical companies operating in India, as well as the domestic Indian pharmaceutical market. India’s pharmaceutical packaging market is projected to grow at a compounded annual growth rate (CAGR) of 10.2 percent from 2015 to 2020, according to a global market-research firm, Markets and Markets.

Also Indian drug makers accounted for 40 percent of US generic drug imports, as per India Ratings & Research, the research company.

The new healthcare packaging plant will help Clariant expand its healthcare business across Asia and also for its business-continuity plans.

“More and more global pharmaceutical companies are instituting business-continuity plans (BCP), to deal with possible market disruptions, both natural and man-made. This new plant will support our ability to provide the same products from multiple plants in Asia and around the world,” said Matthias Brommer, VP and head, healthcare packaging, Clariant.

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