Shiv Kumar Agarwal in Calcutta on Wednesday. Picture by Kishor Roy Chowdhury

Calcutta, Jan. 3: Sunbeam Remedies Pvt Ltd, a pharmaceutical company floated in 2006 by the Mumbai-based Orind and Shashwat group of companies, is on the hunt for an ayurveda medicine manufacturing facility in North Bengal.

“We are in advanced stages of negotiation with an existing company in North Bengal and we hope that the deal could be finalised by April-May this year,” said Shiv Kumar Agarwal, managing director, Sunbeam Remedies Pvt Ltd.

The company is also looking for an ayurveda facility in Sikkim. “But if the North Bengal deal gets through, we will not go to Sikkim. We are looking at a running concern. Setting up a green field project for ayurveda medicine is not feasible for us,” Agarwal added.

Sunbeam has started test marketing bulk drugs to institutions in Maharashtra from this year. “For the time being, we sourced these drugs from three-four contract manufacturers in the country. We are now setting up our first drugs manufacturing plant at Kotdwar in Uttaranchal at an investment of Rs 30 crore,” Agarwal said. The plant is expected to go on stream by April-May this year.

The tax exemptions enjoyed by the Uttaranchal unit will allow the company to sell medicines at affordable prices. The company is focussed on the anti-diabetic and anti-cardiac segments.