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MSN Labs Planning Rs100-Cr Investment
Posted by Pradeep Sadanapalli | January 5, 2008 | 261 views
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Loading ...MSN Laboratories Private Ltd, a manufacturer of Active Pharmaceutical Ingredients (APIs) and formulations, has identified contract research and manufacturing as its focus area and is planning to invest over Rs 100 crore in the next 18 months.
The Hyderabad-based company, which has clocked a turnover of Rs 130 crore last year, is in the process of setting up a greenfield R&D Centre near Pashamylaram near here with about Rs 35 crore.
The company has already acquired land and the construction is likely to commence next month, Mr M.S.N. Reddy, Chairman and Managing Director, told Business Line here.
The proposed centre would house over 350 scientists to carry out research analytical jobs and would be operational by 2009. It currently has 150 scientists on its rolls.
“We have been focusing on research right from the inception of our company in 2004. We have so far filed 10 Drug Master Files (DMFs) in the US and Europe besides four CEPS in Europe and 40 patent applications have already been filed with Indian Patent Office,” Mr Reddy said.
To tap the opportunity in contract manufacturing, the company, which currently exports APIs to 22 countries pooling in 36 per cent of total revenues, would also be setting up a greenfield manufacturing exclusively for contract manufacturing, he added. It currently has three operational manufacturing plants in Patancheru and Khazipally. In addition, its recently-acquired unit in Bibinagar here is likely to be operational in the next financial year.
For the expansion programme, “The company has some funds but was also looking at raising private equity. We are also exploring various other options,” Mr Reddy said.
SOURCES:
Business Line
Topics: Business News |
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