Thursday 28 May, 2020

Indies Pharma pursuing development in Ironshore

Dr Guna Muppuri, Chairman and CEO of Indies Pharma said  the company will provide details about the planned development soon.

Dr Guna Muppuri, Chairman and CEO of Indies Pharma said the company will provide details about the planned development soon.

Indies Pharma subsidiary, Indies Pharma Business Park has acquired a parcel of land situated at Lot 1 Montego Park Estates Ironshore, St James.

Dr Guna Muppuri, Chairman and CEO of Indies Pharma said the company will provide details about the planned development soon.

He explained that the purchase was disclosed because it was already booked.

Indies Pharma, which has been in operation since 2003, develops and markets prescription and over-the-counter drugs. It is also a part of the Bioprist Group that is into property development and business process outsourcing.

Bioprist previously disclosed its aim to set up five commercial parks at a development cost of around $4 billion.

Bioprist Knowledge Parks has three locations for BPO/ICT companies, the first of which is 50,000 square feet of BPO space in Montego Bay, suitable for accommodating a workforce of up to 2,500 employees, according to Jampro’s website. The facility is close to other BPO operations and is four miles from Sangster International Airport.

The second location in Sandy Bay, Hanover features 87,650 square feet of BPO office space, which can accommodate up to 5,000 employees, while the third property, in Lucea, features 60,308 square feet of BPO office space for up to 2,500 employees.

Jampro said all three facilities are fully secured with fencing, equipped with fibre optic networks and standby generators.  

Last week, Dr Muppuri offered the government of Jamaica the Jockey factory for recovering coronavirus patients.

In the meantime, Indies Pharma is awaiting authorization to market several new drug combinations.

During the 2018-19 financial year, Indies Pharma recorded $136.11 million in net profit for 2019 compared to the prior year’s $119.7 million in net profit.

Revenue in 2018 was $729.45 million compared to $636.2 million in sales in 2018.

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