Shreya group targeting over Rs 500-cr turnover this fiscal

MUMBAI: Bio-pharma major, Russia-based Shreya group is targeting a turnover of more than Rs 500-crore this fiscal, a top company official said today.

"Last year, our revenue was around Rs 400-crore (exports and domestic). This year, we are eyeing a revenue of above Rs 500-crore," Shreya Life Sciences' Chairman and Managing Director Sujit Kumar Singh told reporters here.

Shreya Life Sciences is the Indian arm of the Russia-based group. The company, in association with USA/Canada-based Generex Biotechnology Corporation, recently announced that it would launch a human insulin buccal spray under the brand name, 'Oral Recosulin'.

"Oral Recosulin provides freedom from limitations of conventional insulin therapy or devices. It is also an alternative for those who have an acute injection phobia," Singh said.

Oral Recosulin is based on a new technology for insulin delivery in which insulin is delivered through the buccal mucosa (inner lining of the mouth) directly to the vascular system. Shreya Life Sciences also intends to increase its marketshare with this new product, Singh said.