Neuland's mfg facility for Mitsubishi healthcare arm

Neuland Laboratories Limited, a Hyderabad-based manufacturer providing active pharmaceutical ingredients (APIs), intermediates and contract manufacturing services, today opened a new manufacturing facility at Pashamylaram on the outskirts of Hyderabad.

The facility is constructed as part of Neuland’s collaboration with Tokyo-based API Corporation (APIC), a healthcare unit of Mitsubishi Chemical Holdings Group that produces APIs, intermediates and investigational new drugs, beside fine chemicals and reagents. This is the first manufacturing facility that APIC has established outside of Japan.

“This arrangement allows APIC to expand their business in Japan in a timely and cost-effective way, while also helping to raise Neuland’s profile as a supplier of APIs and intermediates to the Japanese market,” DR Rao, chairman and managing director of Neuland Laboratories, said in a press release on Wednesday.

Neuland Laboratories' scrip is currently trading at Rs 263.80 on the BSE, up 3.84%, over the previous close of Rs 254.05 a share.