US drugmaker Amneal bets big on India's formulation market

US drugmaker Amneal bets big on India formulation business Amneal Pharmaceuticals, the New Jersey-based drug maker, the latest entrant in the Indian domestic formulation market is gearing up for new launches and is on hiring spree. Amneal is also open for possible acquisitions to boost its India portfolio.

The drug maker even has plans to bring differentiated products based on novel drug delivery systems, biosimilars and specialty drugs from its portfolio. The $2 billion company by revenue promoted by NRI entrepreneur brothers Chirag Patel and Chintu Patel, has begun commercial operations in India in August with the launch of hospital or critical care division with 120 people, and 30 products. The products include critical cardiac, ICU anti-infectives and anesthesia. Amneal has launched the first of its kind single port closed IV (intravenous) bag in India that reduced potential microbial contamination.