Piramal to establish first private opium processing company
The Mumbai-based Piramal Healthcare plans to set up a manufacturing unit to process raw opium for pharmaceutical use. It helps domestic pharma companies in locally procuring opium-based products like morphine, codeine and thebaine. Indian opium contains a range of chemical compounds such as morphine, codeine, thebaine, noscapine and papaverine, which have widespread medical and scientific uses. In making cough syrups, Codeine is one of the most sought opium products by the Indian pharmaceutical industry.
Location
The plant will be set up at the company's existing facility at Baddi in Himachal Pradesh.
Budget
The estimated cost of setting up the plant is between US$ 14 - 20 million.
Features
This opium processing unit would reduce the dependency on imported codeine. Piramal Healthcare has also entered a technological tie-up with a US-based firm to produce opium-based drugs.
Specifications Table:
- Company Name
- Piramal's Opium Processing Unit
- Location
- Baddi, Himachal Pradesh, India
- Construction Type
- New Construction
- Date of Start
- 2009
- Date of Completion
- 2010
- Estimated Investment
- US$ 14 - 20 million
- Promoters
- Piramal Healthcare
