Indian pharmaceuticals company Laurus Labs Limited will invest upto Rs 450 crore this fiscal to increase its capacity from the current 1 billion tablets per annum to 5 billion by next year, the company’s chief utive officer Satyanarayana Chava said.
The company, which has six manufacturing units in Visakhapatnam (Vizag), will expand its existing unit in Hyderabad and set up a new one in Vizag.
“Of the six units, one API unit is under construction and will come up during the second half of next year. There are expansions going on in the rest of the units. We have a capacity of 1 billion tablets per annum and this will go up to 5 billion by June next year,” Chava said.
The company, which announced that it will be launching its initial public offering (IPO) on December 6 in a price band of Rs 426-Rs 428 per equity share of face value of Rs 10 each, also plans to develop its product portfolio in diabetes and cardiovascular segment.