New Delhi [India], January 21 (ANI/PNN): Prochem's Pharma Division, a globally recognised leader in API powder handling solutions for various domains has merged with Tapasya, a proven expert in granulation and a single-stop solution provider of solid formulations to Pharmaceutical, nutraceutical, and food industries. This will help the companies leverage their combined expertise, manufacturing strengths, and market knowledge and further strengthen Prochem's efforts in its quest to offer innovative and customised solutions to enterprises across verticals from active Pharma ingredients to formulations in various geographies and many industries like Speciality Chemicals, Agro Chemicals, Nutraceuticals etc.
The new business entity Prochem Tapasya Pvt Ltd will add value to create a one-stop solution for Pharma and allied industries. The value proposition for customers will be in terms of project execution at a faster pace and hence better return on investment. The alliance will also add value in terms of quality and cost optimisation.
"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," said Shashi Rai, Director of Prochem.
"I envision Prochem's merger with Tapasya's as one with a far-reaching impact. We now have the expertise and bandwidth to address businesses across verticals with solutions in powder handling and granulation. With India consolidating its leadership in Pharma and several other domestic markets growing rapidly, the demand for innovative solutions is only going to increase. Together we will be best placed to leverage this opportunity." said Nitesh Srivastav, Business Head, 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," said Dev Bakshi Managing Director of Tapasya.
Founded in 2007, Prochem is powered by the three C's of Customisation, Conceptualisation, and Commissioning, to create trendsetting innovative solutions from unloading of raw material to end product filling, that meet customer expectations. Widely recognised as among the most innovative companies in the powder handling business, Prochem is committed to creating next-generation machines and solutions for enterprises across domains.
Tapasya (OSD) Oral Solid Dosage is known for its contribution to various industries as a single-stop solution provider for formulations and is a recognised provider of granulation and pelletisation technology. Established in 1962, the company has added immense value to the granulation, drying, milling, blending, micronizing, coating, and pelletising processes of companies in India and other parts of the world. Tapasya is a global market leader in the high-shear mixer granulators space.
India is also one of the largest drug exporters, accounting for a third of the global Pharma production in terms of volume. The Indian Pharma industry meets over 50% of the global demand for vaccines, 40% of the demand for generic drugs in the US, and 25% of all medicines in the UK. India is also home to the highest number of Pharma units that comply with US FDA norms.
Together, the new business entity Prochem Tapasya Pvt Ltd is poised to revolutionise the Pharmaceutical industry from API to Formulations through innovative product offerings. The merger to form a new entity Prochem Tapasya, comes at a time when the Indian Pharma industry is growing at a rapid clip. The domestic Pharma market is projected to touch $65 billion by 2024 and $120-130 billion by 2030, offering tremendous growth potential for this joint venture.
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