Omkar Speciality Forays Into Crams Business
Omkar Speciality Chemicals Limited has decided to foray into Contract Research and Manufacturing Services (CRAMS) business.
Cost containment pressures due to various factors have prompted several global pharmaceutical companies to contract out various manufacturing activities, over a period of time, from Europe and North America to low cost destinations like India.
“In order to capitalise on the recent revision of the Market Access Initiative by the Ministry of Commerce and Industry, OSCL foresees a strong growth opportunity in CRAMS business, and showcase our manufacturing capabilities in various specialty therapy areas such as anti-diabetology, anti-cardiovascular and oncology, which is skewed towards high-end research and complex technology services, at low cost,” said Mr. Rishikesh P. Herlekar, Whole-Time Director, Omkar Speciality Chemicals Limited.
“Over the past several years, OSCL has continuously strengthened its position in the CRAMS space. Our client profile is well diversified, with top 20 clients contributing 35 percent to our sales. With the ongoing addition of new clients every year, OSCL is in a strong position to drive our business growth in the CRAMS space. The key growth drivers for OSCL in the CRAMS segment are strong order pipeline which will culminate into high margin commercial manufacturing opportunities, growing client base that will help our company to sustainably build a diversified product portfolio; and operational efficiencies driven by strong R&D focused initiatives and multi-product delivery capability,” said Mr. Herlekar.
OSCL is one of the established innovator companies and pioneer in developing and manufacturing various niche molecules with high-quality standards of purity, stability that is supplied to various multinationals across the globe through several rounds of stringent assessment by various regulatory authorities, said Mr. Herlekar. The Indian Pharma industry poised to grow to $100 billion by 2025 has unfailingly been on a strong growth trajectory for many years now. The outlook for the next five-year remains extremely positive especially in the bulk exports of generics or off-patent products. It’s a growth opportunity specifically for Indian CRAMS players like OSCL, said Mr. Herlekar.
Strong regulatory expertise.
Cost efficiency & timely delivery.
High-value technologies with significant entry barriers due to strong IPR Compliance.
Availability of adequate compliant facilities to meet high magnitude of demand.
Tie ups with over 100 global pharmaceutical majors.
Production approvals/licenses and supply contracts with overseas companies.