23 Januar 2004

Gufic Biosciences Scouts For Partner In Biotech Business

MUMBAI, JAN 13: Gufic Biosciences Ltd (GBL) is scouting for a partner for strengthening its new business of biotechnology. The company has initiated talks with a South India based pharmaceutical major, however, it has declined to divulge details on the same.

It also plans to launch a slew of neutraceutical (food supplements) products including anti-osteoarthritis drug envisaging a huge demand for the same in the European market.

Gufic Biosciences chariman and managing director Jayesh Choksi told FE: “We have already made a foray into biosciences industry with a number of herb-based products. This market is generally dominated by multinationals but we feel that the scope for growth is huge. Gufic has also set up a state-of-the-art biotechnology centre which will undertake various research activities for introducing innovative products. The focus of this business will be on developing medicinal, horticultural, floricultural and ornamental crops developed by using tissue culture techniques.”

The company is gradually strengthening its research on plant-based biotechnology, which includes tissue culture, natural dyes and research on medicinal plants.

“We will continue to focus on herbal ethical products and OTC products apart from exporting bulk drugs to the European countries.

Source: Financial Express vom 2004-01-13.

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