New Delhi, Oct 05: Hong Kong-based pharmaceutical company Tayobi International has announced its entry into Indian market with Sati Pharma with an initial investment of about 2.5 million dollar. "We are setting up a us food and drug administration- compliant plant with a total investment of about one million dollar," Prem R Aildasani, chairman, Sati Pharma, told reporters here.

Aildasani said the new formulation manufacturing facility in Gujarat would cater to the export market apart from meeting the domestic requirements. He said the company would be launching anti-diabetes and osteoporosis drugs by next month.

The 425 million dollar Tayobi International is basically a bulk drug manufacturer and already has a manufacturing plant in the country, near Mumbai. The company which has already set up its representative offices in US, West Asia and South Africa is also eyeing the anti-HIV and anti-cancer segment where its marketing strategy would be based on pricing.

Sati Pharma is setting up an extensive marketing network with an initial field force of about 200 in the northern India. Tayobi International, the parent company, deals in steroids and hormones and has a manufacturing facility in Chinese province of Zhejiang.

Bureau Report