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Hindustan Syringes And
Medical Devices (HMD) To Invest Over Rs.100 Crore To Ramp Up Syringe Production
With the surge in Covid cases amid the rising
demand for syringes during the ongoing vaccination drive in India, Hindustan
Syringes and Medical Devices (HMD) on Sunday said that the company will invest
over ?100 crore to expand its production capacity from 2.5 billion syringes to
over 3 billion.
Rajiv Nath, Managing Director, HMD told that the
company not only needs to invest in production lines of syringes-moulds,
moulding machines, printing and assembly packaging, etc. but also in needle
assembly, needles point grinding, recruiting workers and training them.
"Our current production capacity is over 2.7
billion syringes per annum of disposable and auto-disable syringes are
approximately 90 lakhs daily. And we are investing over ?100 crore to ramp up
capacity from 2.5 billion syringes to over 3 billion by next quarter," Nath
informed.
According to Nath, HMD has been practicing the
government's 'Atmanirbhar Bharat' initiative for decades by making their
components.
"We do share the Prime Minister's vision and quest
for an Atmanirbhar Bharat. It is in our DNA," Nath said.
"It is another matter that government policies in
the last 10 years favour imports of medical devices and components. So it's no
more a competitive advantage to produce these components in India," he added.
The company said that it is also facing few
challenges in the process of production and supply due to the pandemic.
The company has received orders for 240 million
Kojak syringes for COVAX via UNICEF and 79 million for Brazil for Dispovan
syringes via PAHO.
"We had also shipped 140 million Kojak syringes to
Covid-19 Vaccine Global Access (COVAX) last December. We have recently sold 15
million syringes to the Japanese government. In total, we serve over 120
countries worldwide," he said.
https://www.businessinsider.in
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Medtronic Opens Engineering,
Innovation Centre In Hyderabad
Medtech player to strengthen its R&D facility.
Medtronic pls, global player in medical technology,
has set up its new Medtronic Engineering and Innovation Center (MEIC) here. The
150,000 sq ft centre employs engineers currently in the areas of software
development and testing, test automation, mechanical design, analysis and
hardware was formally inaugurated by KT Rama Rao, Minister for Municipal
Administration & Urban Development, Industries & Commerce, and Information
Technology, Government of Telangana here on Wednesday.
“We see enormous potential in energising the
medical devices innovation ecosystem in the country. The R&D team in India is a
key contributor to Medtronic’s global product development,’’ Madan Krishnan,
Vice-President and Managing Director, India Medtronic Pvt Ltd, said in the
inaugural function.
“The opening of the new site is an important
milestone for us as it serves as a critical component in strengthening our
global R&D organisation and will also drive innovation and growth,’’ he added.
Globally, Medtronic has spent approximately $2.3
billion annually in R&D in recent years, and MEIC recently received an
investment of ?1,200 crore for expansion in Hyderabad.
This investment planned over five years aims to
foster global innovation and create several job opportunities. With this
expansion, MEIC aims to leverage the sizeable pool of diverse and skilled talent
in India.
Rama Rao said: “Hyderabad is already home to
marquee technology and life sciences companies and now, we are extremely
delighted to host the largest R&D facility for Medtronic outside the US.’’
Medical devices sector has been identified as one
of the key focus sectors by the State, he added.
MEIC serves as a global hub for development,
testing and qualification for some of the most advanced and innovative
technologies. The setting up of the new R&D facility is a step to create synergy
by supporting Medtronic’s businesses globally, in various therapy areas
including respiratory intervention, remote patient monitoring and digital
health, surgical robotics, electrosurgical generators, cardiac rhythm and heart
failure, and navigation, amongst others.
https://www.thehindubusinessline.com
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