In Phase 3, the company will invest around Rs 100-150 crore for expansion.
Hyderabad: The Indian arm of the Spanish pharmaceuticals manufacturer Chemo Group, which inaugurated its first R&D and manufacturing facility in India here on Wednesday, plans to invest around Rs 400-500 crore in the next four to five years in three phases, according to the group’s industrial division MD Lucas Sigman.
Speaking at a press conference, Mr Sigman said, “India is a strategic place for us. We have already invested Rs 100 crore so far as part of the Phase I activity. We plan to invest around Rs 450-500 crore in total across a three-phase expansion spread over the next 4-5 years.”
The unit, which will have an initial headcount of 35 people, will produce oral dosage forms, including tablets, caplets, hard gelatin capsules and pellets, according to Chemo India Formulations MD Kurumaddali Kumar.
The products manufactured at the Hyderabad unit will cater to the markets in Western Europe, North America and South America, among others.
The unit, built in a 5 acre land at the Genome Valley, can be expanded to a 2-lakh sqft complex during phase-III expansion.
