Hyderabad-based Laurus Labs Ltd will invest Rs 200 to 300 crore in capacity expansion over the next 12 months.
Speaking to BusinessLine, Executive Director and Chief Financial Officer VV Ravi Kumar, said, “the production capacity of active pharmaceutical ingredients (APIs) will be augmented by expansion of existing units.”
At present, the company has eight operational units — six in Visakhapatnam and two in Hyderabad. It has decided to expand its units 3, 4 and 6 located in Visakhapatnam.
Ravi Kumar added: “We are now stepping up focus on formulations and expect the revenue to grow considerably in a couple of years from now.”
He added: “This will enable us to participate in WHO and in country tenders.”
Image Credit : pbs.twimg.com