Piramal to establish first private opium processing company

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Name:

Piramal to establish first private opium processing company

Location:

Baddi, Himachal Pradesh, India

Company:

Estimated Cost:

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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. Project Name Piramal's Opium Processing Unit Location Baddi, Himachal Pradesh, India Commence 2009 Completion 2010 Estimated Investment US$ 14 - 20 million Capacity - Key Players Piramal Healthcare