Hikal riding economic boom

Hikal, one of India's leading pharmaceutical and agrochemical manufacturers, has much to celebrate this year.

Since its establishment in 1988, the company has evolved from an outsourcing contractor for multinationals in the agrochemical sector to a diversified group that is also engaged in pharmaceuticals.

"We saw the future in this sector and today our pharmaceutical business is growing rapidly. It has overtaken our agrochemical business this year and in 2009 it will be even bigger," said Vice Chairman and Managing Director Jai Hiremath.

"Hikal specializes in contract manufacturing of key active ingredients and intermediates for both the pharmaceutical and crop protection business and is a reliable long-term outsourcing partner to companies in the industry. We have been very successful with this strategy. In 2007 we experienced 30 percent growth, which will continue in 2008," Hiremath said.

He added Hikal sources critical raw materials and intermediates from China's pharmaceutical and agrochemical industries, in a joint venture with a Chinese company.

"We entered into the joint venture as a minority shareholder with Jiangsu Chemstar, a subsidiary of Sinochem. This joint venture has been going on for more than two years now and we share a very positive relationship," Hiremath said.

Research and development has also played a crucial role in the company's success.

"We are investing extensively in research and development. Hikal has set up a new state-of-the-art research facility in Pune, India. We are not only selling our products globally, but also recruiting world-class scientists," Hiremath said.

www.hikal.com

(China Daily 08/18/2008 page14)