Bilcare Research launched, furthering Indian CMO’s global expansion
The group will offer a range of services and technologies to the drug industry, ranging from its anti-counterfeiting nonClonableIDTM card range to high-shrink PET and PVC packaging and aluminium foil and film manufacturing.
The Ineous unit, bought in August for €100m ($130m) as part of Bilcare’s efforts to expand it global presence and market access, will provide pharma film manufacturing services from its facilities in India, the US, Italy and Japan
In a release accompanying the Bilcare Research launch the Indian firm said it will be investing in new lamination technologies and extending its coating capacity in both new and existing markets.
Bilcare Research chair Heinz Gaetner set the new unit and expansions in context, suggesting that: “Investments in marketing, production and R&D will ensure that we continue to be a leading global manufacturer of films and become a full range solution provider for our customers.”
The is in keeping with the programme of investment in production capacity and R&D that Bilcare has undertaken this year, beginning in March when it doubled capacity at its clinical trial supplies facility inCrughywel, Wales.
More recently, in July, Bilcare completed expansion of its cold-chain storage clinical trial supply storage and distribution facility in Phoenixville, Pennsylvania in the US.
Bilcare cited its growing global reach, and specifically that provided by Ineos Films, as a key factor in recent revenue growth.
The firm said in that, in September alone, Ineos contributed revenue of INR1.4bn ($31.7m), helping it finish the three months ended September 30 with overseas revenue of INR3.05bn, up 139 per cent on last year.
Total sales for the quarter were also higher that a year earlier, up 77 per cent to INR4.65bn, while earning before interest, tax, depreciation and amortization (EBITDA) grew 61 per cent to INR1bn.