Dabur India Ltd has taken a $8 million loan from ABN Amro to
finance its anti-cancer facility in the UK. The loans will be used by Axol Laboratories,
Dabur''s Pharmaceuticals UK subsidiary, set up to manufacture and market anti-cancer
drugs for European countries. Dabur Pharmaceuticals Ltd is a division of the Rs 915-crore
The loan, arranged with ABN Amro India, will be remitted
directly to Axol by its ABN''s UK affiliate. Sources say that Axol is finalising
acquisition of land and building in the UK. The unit is expected to be ready by the end of
the current financial year, and operations are scheduled to commence in April 2001.
Dabur has created Axol with a view to expanding its
oncology business to developed markets of Europe and US. The company is planning similar
ventures in Russia and in African countries.
Axol Laboratories will sell Daburs existing product
range being marketed in India, plus new products to be developed exclusively for overseas
On the domestic front, the company is planning to
strengthen its oncology segment by
launching two more anti-cancer products in September 1999.