DRS Group, India’s one of leading 3PL player with interests in logistics, supply chain management, warehousing and education will now foray into pharmaceutical business with the launch of its new division, DRS Labs. The division had inaugurated its first of state-of-the-art manufacturing facility at Medchal in Hyderabad.
The new division, DRS Labs commences its operations with a capital of Rs 10 crore and will initially focus on contract manufacturing. The state-of-art manufacturing facility spread over 9 acres land with a built-up area of 40,000 sf.ft. is fully equipped to manufacture over 300 tonnes of tablets, capsules, liquids and ointments.
Explaining the rationale behind this new initiative, A. K. Agarwal, Director – DRS Group said, “There is a huge demand in the contract manufacturing space and with Indian drug manufacturing sector gaining international prominence, we felt this was the right time to launch DRS Labs. The new division will commence its operations with contract manufacturing and we will target Rs 50 crore turnover in the first year.”
On receiving all statutory clearances, DRS Labs will also acquire licenses of certain OTC drugs which will be manufactured at the new facility. DRS Labs is also in talks with few companies to acquire licenses of certain products and will also launch their own brands.