India's USV Plans Manufacturing Investments, New Formulations Unit To Target Europe
Indian firm USV plans to spend $56.4m on a new drug formulations unit in Vadodara and $11.3m to upgrade its existing API unit near Mumbai as it eyes expanded capacity and additional sales in Europe.
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USV is building on its play in Europe with the acquisition of Juta Pharma in Germany – a market that has been fostering generics alongside supporting innovative medicines.
USV has joined the list of firms seeking clearance for biosimilar pegfilgrastim in Europe. Managing director Prashant Tewari says the company is “well geared” to address potential price competition and maintains that biosimilarity of USV’s pegfilgrastim with the innovator product has been established “satisfactorily”.
With the India business on the road to recovery and the US growth outlook muted, Torrent hopes to keep the boat steady in fiscal 2021. It also expects an order in Q3 in a patent infringement case pertaining to AstraZeneca’s Farxiga, where it and multiple Indian firms are seeking to launch generic versions.