A leading US company has already filed abridged new drug application (ANDA) with the USFDA a couple of months back, expressing its intention to pick up Acyclovir from Medicorp and convert the bulk drug product into tablets or capsules, a senior company official told The Financial Express.

Medicorp Technologies is Asia's largest manufacturer and the third largest producer worldwide of Acyclovir. Medicorp manufactures other drugs like `alprazolam', `cetrizine dihydro-chloride', `omeprazole' and `fluconazole' plans to launch at least four new products in the coming few months.

The company has already registered the drug master file (DMF) in the US and a reference to this has been made by another US company which intends to buy Medicorp's product.

The US FDA for Medicorp will be coming after it bagged the certificate of suitability from the European department for quality medicines and TGA, Australia for Acyclovir. These certificates have enabled the company to enter the European and the Australian markets.

The company has appointed the Geneva-based, Quality Assurance Consultants for training the company's personnel towards fulfiling the requirements of International Drug Regulatory Agencies in meeting the Current Good Manufacturing Practices) cGMP standards.

Medicorp is also shifting its research and development centre to the ICICI knowledge park near Hyderabad.

The company's R&D facility is currently situated at its main plant, Pashamylaram and has developed more than 10 molecules in the last two years has been recognised by the department of scientific and industrial research.Acyclovir contributes close to 50 per cent in the company's turnover of Rs 40 crore. Exports constitute close to 87 per cent in the total revenues.

On the back of proposed launch of new products, approvals from the authorities like US FDA, UK MCA and TGA Australia, the company expects to double its turnover to around Rs 80 crore in 2000-01.

Medicorp technologies is part of the Chennai-based Shriram group having interests in chit funds, automobile finance, logistics and effluent and waste treatment.

During the year, a few funds including ICICI Venture Management Fund picked up close to 71.38 lakh shares at Rs 17 per share. In the post-issue equity of Rs 19.25 crore, promoters hold close to 41 per cent, ICICI and ICICI Venture Management Fund together hold close to 35.7 per cent and the balance is held by public. For the year ended March 2000, the company reported a net profit of Rs 3.6 crore against Rs 0.6 crore reported last year. Turnover during the period doubled to Rs 40.06 crore, up from Rs 20.17 crore reported last year.