Deurali Janta invests Rs 870 million in new divisio
KATHMANDU, June 27:
Deurali Janta Pharmaceuticals Pvt. Ltd. (DJPL) on Wednesday launched Nirog Division with an investment of Rs 870 million.
The division will primarily manufacture pain relief and anti inflammatory drugs, demand for which has been soaring in the recent years. Hospitals and dispensaries have been importing such medicines from outside the country.
The rise in the demand for pain relievers and anti-inflammatory drugs has been linked to the increase in number of accidents.
The drugs help those who suffer physical and mental trauma resulting from accidents. Government records show that fatalities from road traffic accidents have shot up in recent years.
"We have launched this division to fulfill the unmet demands for such drugs," Hari Bhakta Sharma, executive director of the company, said at the launching ceremony of the division. Sharma said that the company decided to invest additional amount despite the adverse business environment in the country. He said that the company hopes that the division will reduce the import of foreign medicines.
The DJPL is the first Nepalese pharmaceutical company awarded with World Health Organization Good Manufacturing Practice (WHO-GMP) certificate. Sharma assured that his company will not compromise on the quality of the medicines.
The DJPL has been producing 220 types of medicines, including essential drugs for ailments related to heart, kidney and others. Out of total manufacturing capacity, the company has been utilizing only 60 percent.
Prolonged load-shedding and government indifference to entrepreneurs´ concerns has been blamed for lack of enthusiasm among entrepreneurs for raising investment in the pharmaceutical sector. He appealed to the government to create an environment to industrial productivity of the country.
The national pharmaceutical companies meet less than 40 percent of the country´s demand for medicines. Forty-five pharmaceutical companies have been producing medicines in the country. Sharma said that Nepal imports drugs manufactured by 258 foreign pharmaceuticals companies at the cost of Rs 16.6 billion.
Sharma informed that his company is planning to invest in the manufacturing industry, herbal products and agro research in the near future. The company also plans to export its products to at least five international markets within next 10 years.
Source: Republica
