Surya Pharma launches neuropsychiatric division

CHANDIGARH: The Rs 1,600-crore Surya Pharmaceutical has launched its Super speciality Neuropsychiatric division called ALVIN and is eyeing sales of Rs 15 crore from the division in a year's time.

"ALVIN has been launched at 120 headquarters with 160 sales professionals pan India. We will be covering around 15,000 leading neurologists, psychiatrists and neurophysicians," Surya Pharma Chairman and Managing Director Rajiv Goyal told reporters here today.

He said that the size of the neuropsychiatric market in India is around Rs 3,000 crore, growing annually at a rate of 15 per cent and the company has forayed into the domain to leverage this potential.

With the launch of ALVIN, the company is targeting a sales of Rs 15 crore in the first year, Rs 26 crore in the second year and Rs 40 crore in the third year, Goyal said.

In the first phase, ALVIN will come up with 15 major neuropsychiatric molecules which include Escitalopram, Mirtazapine, Divalproex, Levetiracetam, Oxcarbezapine, Dapoxetine, Olanzapine and Clonazepam.

In the second phase, the group is planning to launch two formulations for the first time in India (Escitalopram + Olanzapine & Dapoxetine + Sildenafil).

"The major therapeutic segments being covered under the division are anti-epileptic, anti-depressant, anti-psychotic, anti-migraine, Anxiolytic & sexual dysfunction, Prokinetic etc," Goyal added.

He said they would shortly launch the seventh division-- Auskin-- dedicated to skin care products.

He stated, "We started formulation division in December 2009 and achieved top line of Rs 15 crore by March 2011, and expect to achieve top line of Rs 50 crore during 2011-12."

Other divisions of the company are Alexus (general products), Altair (diagnostic and medical equipment), Adonia (gynae care), Acucare (critical care) and Aegis (generic formulations).

He said the company is the 20th largest pharmaceutical firm and have customers in more than 90 countries.