New Delhi: Prochem’s Pharma Division, a leader in API powder handling solutions and Tapasya, an expert in granulation and solid formulations provider to Pharmaceutical, nutraceutical, and food industries have merged. With the combined expertise of both companies, their manufacturing strengths and market knowledge are further reinforced to help Prochem offer customized solutions for active Pharma ingredients, Speciality Chemicals, Agro Chemicals, Nutraceuticals and more. This quest for innovation has given the enterprises greater access to diverse geographies.
Prochem Tapasya Pvt Ltd, a new business entity, aims to provide an all-inclusive solution for Pharma and allied industries. Through faster project execution times, customers will be able to extend their return on investment. Quality and cost optimization are added values of being in the alliance.
“I am truly excited about the possibilities, this merger of Tapasya with Prochem’s Pharma Division offers. As a leader in Granulation, Tapasya has its own distinct strengths in the Pharma and FMCG industries, and its RMG specially the Sizoner is the highest sold machine in the global market and widely used across industries. Together we will be able to offer our clients across verticals, innovative solutions that deliver better performance and reliability going forward. We can grow to become stronger and have a better impact, a reflection of the ‘Make in India’ vision we have been pursuing,” stated Shashi Rai, Director of Prochem.
“This is a coming together of like minds to achieve something impactful and innovative. I strongly feel there is an excellent opportunity, with our know-how, and market presence. Prochem is a proven market leader with a track record in offering powder handling solutions to reputed clientele worldwide. Our strengths combined with theirs will help us create next-gen solutions that are much needed by industries across verticals,” stated Dev Bakshi Managing Director of Tapasya.
India is a major player in the international drug industry, comprising one-third of all global pharmaceutical production by volume. The country's Pharma industry meets more than half of the demand for vaccines globally, 40% of the US' demand for generic drugs and a quarter of all medicines in the UK. Additionally, India hosts the most number of Pharma units that comply with United States Food and Drug Administration regulations.
Prochem Tapasya Pvt Ltd is set to make a significant mark on the pharmaceutical industry, from API to Formulations. This merger comes at a time when the Indian Pharma sector is booming, with the domestic market placed to reach $65 billion by 2024, and $120-130 billion by 2030. This joint venture promises lucrative opportunities for everyone involved.