Venus Remedies to set up plant in HP
Venus Remedies to set up plant in HP
India Infoline Ltd
Venus Remedies Ltd on Monday said that it has acquired 5 acres of land for setting up an exclusive manufacturing facility at Baddi, in Himachal Pradesh, which shall be housing eight dedicated sections built to international benchmarks.
The proposed facility shall be USFDA accredited and have facilities to cater to the super specialty segments like Carbapenems, anti-cancer drugs in Lyophilized form, SVP injections in lyophilized form and injections in pre-filled Syringes. The complete Baddi project will require a capex of Rs500mn to be completed in 4 phases, in two years time.
The first phase shall be bringing up two dedicated sections for Cephalosporins & Anticancer injections with a capacity of 1lakh vials per day and 15,000 vials per day respectively. The new facility shall be set up in a pollution free zone, with latest, fully automatic, PLC controlled machinery.
The plant will be commissioned in September 2005. The first phase facility shall be supported by warehouse with cold storage facility, Laboratory, Canteen and an administrative block.
The Baddi plant shall be bringing in additional benefits to the company, not only in the form of enhanced capacity, but also the Excise duty Exemption and the Income Tax benefits offered by government. A 100% growth in sales is projected with this new facility and the projected N P from this unit is approximately 15%.
This facility, being USFDA accredited, shall be used for catering to regulated markets around the globe for Global launches of new, innovative products being patented by the company.
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