Calcutta, Sept. 18: Geno Pharmaceuticals (Geno), owned by the Salgaokars based in Goa, is planning to set up a new formulation plant in West Bengal.
The company has taken this decision as the eastern region, and West Bengal in particular, generates major revenue for Geno.
Geno director (marketing operations), H. Roychowdhury, said the land for setting up the plant has already been acquired near Eastern Metropalitan Bypass in Calcutta.
“When various companies are leaving the city citing labour troubles as a reason, we have found the place very comfortable for business. We are optimistic about our future investment plans in this region,” he said.
The company has already shifted its marketing headquarters from Mumbai to Calcutta in order to strengthen its focus in the state.
The company has firmed up plans to set up a plant in the state as it would be in close proximity to the market that contributes 45 per cent of the revenue to the company’s coffers.
Roychowdhury pointed out that Geno has set a target to double its turnover from Rs 50 crore to Rs 100 crore in the next five years. “Our current growth rate is very encouraging and we hope we would be able to cross our target much before time,” he said.
When in place, the plant will be Geno’s first manufacturing unit outside Goa.
Geno, which has a nationwide marketing network with over 400 field workers, makes tablets, capsules, ointments, drops, syrups and injections. The company, however, is not very much into antibiotics.