Published on : Nov 30, 2015
Indian drug firm Mankind Pharma is planning to invest Rs 200 crore to install two separate manufacturing plants in India before mid-2016. The expansion plans are a part of the 2016 plan by Mankind to improve manufacturing rates.
Sheetal Arora, managing director of Mankind Pharma, said that the company has announced to invest Rs 200 crore to start two plants by mid-2016. This investment will exclude cost of land. One of the plants will be based in Behror, Rajasthan, and the other will be installed in Sikkim.
The plant in Sikkim will consume an investment of Rs 150 crore and will be initiated in operations by March 2016. The Behror plant will consume Rs 50 crore and will be ready around June 2016.
Arora mentioned that the company will meet the investment requirements through internal accruals.
The Sikkim plant will house a more diverse profile entailing various segments, while the Behror facility will focus on APIs.
Arora also added that Mankind Pharma will also install another plant at Udaipur in early 2018 or even before the end of 2017. Arora said that the company already owns the land required for the facility.
Recently, the Indian pharma company had released Gliptin, an anti-diabetes drug, sold under the brand name of Dynaglipt. The drugs is sold for Rs 8.5 for each tablet. The company expects the sales of these tablets to contribute Rs 200 crores towards the revenues expected by the company of around Rs 4,200 crore.
Mankind Pharma holds an employee count of more than 12,000 workers and is planning to create employment for 3,000 more once the three plants are fully functioning.