Eyes revenue of Rs 1000 crore from Indian market over the next two to three years
Alere Medical has launched its integrated facility in Manesar for manufacturing POC diagnostic products. The company intends to accelerate its export strategy in India, as part of an Asia-Pacific expansion plan, in order to meet the growing demand for rapid diagnostics in APAC region.
In sync with the ‘Make In India’ campaign, Alere’s Indian subsidiary Alere Medical has invested Rs 150 crores to set up the facility. The Manesar facility will initially produce more than 150 million rapid diagnostic tests per year and will have the capacity to expand to 300 million test over time. The facility is spread across 180,000 sq ft and will immediately generate 300 new jobs.
“The new factory will produce rapid tests for infectious diseases including malaria, dengue and HIV and export them across Asia Pacific, a region heavily impacted by these diseases,” said Namal Nawana, CEO and President, Alere.
Already a dominant player in rapid diagnostic tests, Alere aims to achieve their target of Rs 1,000 crore over the next three years equipped with portfolio innovative POCT diagnostic products that will focus on improving health outcomes. The company will continue to focus on cardio metabolic diseases, infectious diseases and toxicology (Drugs of Abuse) solutions in India by providing affordable, sensitive, specific, user-friendly, devices for disease control and management.
EH News Bureau