Medico Remedies Ltd on Saturday said the company has completed its trial production rounds at the newly established state-of-the-art ointment manufacturing plant at Palghar in Maharashtra.
The new manufacturing facility, measuring 15,000 square feet, has been constructed adjacent to the existing plant which manufactures tablets and other medicines, the company said in an exchange filing
The facility will have the capacity to manufacture up to 3 million tubes monthly, it said.
Haresh Mehta, chairman and whole-time director of the company, said the new facility would be able to cater to the fast-growing ointment industry, which is growing at 17 percent year-on-year basis. This new facility is revised schedule M-compliant and plans to apply for WHO GMP certification soon.
"We are in advanced talks with multiple global players for manufacturing these products. We intend to apply for UK MHRA, US FDA, and PIC/S certifications in the future for this plant. This will allow the company to enter regulated markets like the USA, Europe, etc," he added.
Medico is a formulation manufacturing company with a focus on anti-infective, BetaLactums, cephalosporin, antimalarial, antiretroviral, anti-ulcer drugs and antacids, vitamins, haematinics, and other supplements.
