New Delhi: Medicine manufacturer Ajanta Pharma has drawn up a 250 million capex plan for the current fiscal because it wants to expand the corporate office and production facilities, a top official said.
The drugmaker operates eight manufacturing plants in India and Mauritius, including two plants approved by the US Food and Drug Administration (USFDA).
‘During the current year (FY22) we estimate that the investment amounts to around 250 million. It will largely go after maintenance and some new expansions for the corporate office and some major expansions in the facility, ”said Yogesh Agrawal, managing director of Ajanta Pharma.
The company has earmarked a capital plan of 150 million for fiscal 2019-20.
Agrawal noted that last year 30 million was invested in the expansion of the business office, and that this year it will amount to between 60 and 80 million.
Ajanta Pharma currently has more than 7,000 people worldwide and its products are sold in more than 30 countries, including the USA – the world’s largest market for pharmaceutical products.
Asked about the company’s business plans in the US, Agrawal said: “As you know, it was a very hard closing last year, so the R&D was closed for five months, which is why we see what in the abbreviated new medicine application forms (ANDA) for the current year or rather last year.But we believe we have made good progress over the past 5-6 months.
ANDA submission will pick up in the current year and it will try to get as close to the target of 10 to 12 per year, Agrawal said.
Source: Telangana Today