Indian pharma firm Cipla will invest INR5bn ($90.5m) in three new API manufacturing plants.
The firm made the announcement in its annual report last week , explaining that construction of the new facilities in Patalganga, Bengaluru and Kurkumbh – as well as two new R&D sites it is building in Vikhroli and Patalganga - will start this year.
The investment fits with Cipla’s recent efforts to expand its active pharmaceutical ingredients (API) business, which has been focused scaling up production of key production like bortezomib, carmoterol and ritonavir for commercial manufacture.
In addition to the investment plan Cipla also reported that revenue from operations during fiscal 2012 grew 10 per cent to INR70.75bn, with domestic revenue increasing 14 per cent to INR32.1bn. Profit also increased, climbing 17 per cent to INR11.1bn