Biosystems Diagnostics, a joint venture between Chennai-based Trivitron Healthcare and Spanish company BioSystems hopes to produce reagents worth Rs 200 crore in the next three to five years. The JV opened its manufacturing facility at Trivitron Medical Technology Park in Chennai on Monday.

BioSystems is one of the leading manufacturers of clinical chemistry reagents and instruments, immunofluorescence reagents and instruments as well as immunoturbidimetry reagents for over three decades.

The facility has a built-up area of 45,000 sq ft and has a capacity of one lakh litres of reagents per year. The JV has invested $10 million in the facility.

“This plant would be incorporating all contemporary technologies and comply with European Standards for its operations and would be at par with the global standards in every way. The plant design is scalable to double the capacity in future. This facility will produce reagent worth over Rs 200 crore during next three to five years and it would not only cater to the domestic market but also supply to the other overseas markets.”

The Indian market for diagnostic reagents is highly dependent on imports. Almost 80 per cent of the products are brought into the country from the developed world, mainly US and Europe. Apart from catering to the domestic market the company will also look at exporting the products to emerging markets in Asia, Africa, Latin America and West Asia.

“Our association with Trivitron will successfully help the two leading companies to leverage its respective strengths in marketing and manufacturing,” said Antonio Elduque, CEO, Biosystems.