Wanbury Pharma company Wanbury on Friday said it has set a target of Rs 1,000 crore revenue by 2011 and 2012 and is eyeing half of it to come from contract research and manufacturing services (CRAMS) business.

“We expect to achieve revenue of Rs 1,000 crore in 2011-12. Of the Rs 1,000 crore, we expect CRAMS business to contribute Rs 500 crore,'' Wanbury Director, Mr Ashok Shinkar .

At present, the company's CRAMS revenue on a standalone basis stands at Rs 37 crore and its group revenue is Rs 386 crore. The Indian CRAMS market is estimated at $1.5 billion now and is expected to leap to $20 billion in the next five years.

The company is open to both organic and inorganic growth in the CRAMS space. “We are looking for CRAMS opportunities in the US & Europe and the Japanese market in the future,'' he said.

In the local market, the company is looking at launching two divisions for gynaecology and orthopaedics segments. “The domestic gynaecology, gastro and the oncology market is growing at 40 per cent. Wanbury's market is growing at 80 per cent annually in these segments,'' Mr Shinkar said.