Promed, a leading manufacturer and exporter of pharmaceutical formulations, has joined the select group of small volume parenteral manufacturers, with its blow fill seal manufacturing unit in Himachal Pradesh's Nalagarh beginning operations.

Company executives said the setting up of this plant was a major step towards the company's entry into the highly regulated pharmaceutical markets of the US and Europe.

Built with an initial investment of Rs 50 crore, the Nalagarh plant stands on 11,500 square metres and uses imported machinery.

It will manufacture single-dose and multi-dose ophthalmics, respiratory solutions, injectables, woundcare products, nasal and ear drops, among other equipment.

"The plant will have two manufacturing lines with an initial capacity to manufacture 90 million units, which can be expanded further," said Deepak Bahri, president of the group, after opening the unit yesterday.

"By setting up this unit, Promed will also strengthen its presence in its stronghold markets in Russia, the CIS and South East Asia," he said.

Promed said it had grown more than 10 times in the last six years and aims to touch $100 million by 2010.