cashes in on formulation and API
Themis Medicare has over
three decades of presence in manufacturing and marketing of
formulations and active pharmaceutical ingredient (API) of synthetic
and biotech origin.
Themis Medicare achieved a total turnover of Rs 97.5 crore
for the fiscal year 2008-09 as against Rs 110 crore in
2007-08. Themis Medicare is a joint venture pharmaceutical
company, with Gedeon Richter Ltd., Hungary. The company has over three
decades of presence in manufacturing and marketing of formulations and
API of synthetic and biotech origin. Though their first breakthrough
product of Themis was Vitamin B12, the company moved on to manufacture
synthetic API such as ethambutol hydrochloride, pyrithioxine
derivatives, methylcobalamin, propofol and artemisinin derivatives.
In formulations, Themis Medicare has addressed relevant and growing
therapeutic areas like antituberculosis, antimalarials, cardiology,
pain management, anti-infectives, haematinics, health and nutrition.
The company engages in co-marketing its research-based formulations
with other pharmaceutical companies in India and abroad. Themis focuses
on the production of statins; in 2004, the annual production of statins
touched 100 tonnes. Themis Medicare is headquartered in
Mumbai with four state-of-the-art manufacturing facilities at three
locations, in Vapi (Gujarat), Hyderabad (Andhra Pradesh), and Haridwar
Themis made its presence felt in the biotech market when it merged with
Artemis Biotech Ltd in 2004. Artemis Biotech is involved in
biotechnology and fermentation activity. Artemis is based in Hyderabad
where Lovastatin, Simvastatin and other fermentation-based actives are
produced. The facilities available at the plant have attracted foreign
multinationals to undertake the manufacturing of their products
therein. The merger spelt good news for both TML and Artemis as both
recorded profit margins post the merger. In the same year, TML
had obtained COS recognition for Lovastatin and Simvastatin
which enabled them to sell these statins in Europe. Lovastatin and
Simvastatin have a significant share of exports for Themis.
In the fiscal year 2006-07, Artemis produced record levels of
Lovastatin and Simvastatin and the factory was also upgraded.
In the same year, Themis had launched three new specialty divisions for
the domestic market viz., Anti-Malarial Task Force (AMTF),
Anti-TB Task Force (ATTF) and Regular Field Force (RFF division) to
ensure better and effective coverage.
Themis also has a joint venture company in India with Gedeon Richter
Ltd, Budapest, Hungary, to manufacture active pharmaceutical
ingredients (APIs). The joint venture company bears the name of
Richter-Themis Medicare (India) Private Ltd. Themis had also signed a
long-term business agreement with Schering-Plough Animal Health
Corporation-USA (SPAH) for a new drug delivery