Arvind Remedies plans to invest Rs 190 crore in its Chennai facility
The investment will be used to expand the Chennai drug manufacturing facility.
Mumbai, November 11, 2012: Arvind Remedies is planning to invest an additional Rs 190 crore at its Ayurveda facility in Chennai to manufacture drugs. The company is planning to manufacture oral solids, dry powders and multi-dosage forms along with a couple of patented drugs.
It is worth noting here that the financial closure of the expansion is complete and the Chennai-based company has already ordered machineries for the said plan, which is expected to be ready by June 2013.
The company works with names like Novartis, Cipla, Sun Pharmaceuticals, Wanbury and IPCA in the area of contract research and manufacturing. The company now plans to increase its focus on the higher margin segments of retail business and add four more states in the marketing operations each year.
The company is also planning to launch off-patent products in the Indian market along with a speciality product every year with a view to tap the pan-India market.
The company is already exporting to regions like Sri Lanka, Myanmar, Philippines, Zambia and Kenya. In fact, it is planning to expand its presence to Africa, Central and Latin America and CIS countries.