Shantha Biotechnics Limited has decided to invest Rs 50 crore in a new suite to expand its Hepatitis B vaccine manufacturing capacity. | |
| French biosciences company, Merieux Alliance, which had recently acquired 60 per cent stake in Shantha Biotechnics, will be supporting the activities of the Hyderabad-based company in expanding its business in vaccines and biosimilars globally. |
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| "Shantha Biotech will be the global hub for vaccine development initiative," Merieux Alliance chairman, Alain Merieux, told mediapersons here on Wednesday. |
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| According to Shantha Biotechnics managing director Varaprasad Reddy, the company will be expanding its research and development activity and proposes to double the number of suites from the existing eight. |
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| With Merieux Alliance acquiring the majority stake, Reddy was hopeful that the company's turnover would be doubled in the next financial year. |
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| In 2005-06, Shantha Biotechnics posted a turnover of Rs 90 crore. In the current financial year, it was expected to achieve a turnover about Rs 130 crore. |
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| Newly appointed executive chairman of Shantha Biotechnics, Georges Hibon, said the French company would lend its management expertise and through its network would provide Shantha Biotechnics access to global markets. |
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