Jointly promoted by J K Industries and TIDCO, J K Pharmachem manufactures drugs and pharmaceuticals. It entered the capital market in Oct.'94 to part-finance the setting up of a plant to manufacture 1250 MMU P.a of pencillin-G, based on a microbial strain from the technical collaborators -- IGC (Cyprus), Cyprus -- a wholly-owned subsidiary of ICN Galenika. Commercial production at this plant commenced in Oct.'95. The company has a tie-up with ICN Galenika, part of the ICN Pharmaceuticals group (one of the pioneering manufacturers of pencillin-G), to set up a 1250-mmu capacity plant. It has already produced international standard penicillin with Indian raw materials, at its collaborator's plant which is among the best in the world. In addition, J K Pharmachem had set-up its own R&D activity well in advance for future development in the field of bio-technology. A pilot plant is also being established for this purpose at Cuddalore, Tamilnadu. The company also plans to diversify into speciality fermentation products. It has also started production of Penicillin-V and is the only one in India to produce this bulk active. During 1999-2000, the company started the production of Penicillin V and is the only producer of this important bulk active in India. The accumulated losses of the company having exceeded 50% of the peak networth of the company in the immediately preceding four financial years, the company took the necessary steps of SICA, 1985. The company developed an in-house and launched viz JKZyme, an environment new product of paper & pulp. Commercial trails are under way in India and abroad. The company has produced 1192 MMU of Penicillin-G during the financial year 2003-04 and retained its status as the second largest producer with a market share of 24%.