Shasun to invest Rs 100 cr for setting up new Vizag plant

Shasun Chemicals is planning to set up an Active Pharmaceutical Ingredient (API) manufacturing facility in Vijaz, Andhra Pradesh, with an investment of up to Rs 100 crore over the next two-three years.

"We are planning to set up a new API plant in Vizag, for which the initial investment would be around Rs 35 crore which would be further scaled in the next two-three years," Shasun Chemicals and Drugs CEO and MD N Govindrajan told reporters here.

He further added that the total investments in the project could go up to Rs 100 crore over the next two-three years.

The company today announced its foray into bioequivalence (generic drugs produced though biotechnology) segment with the launch of its drug 'Streptokinase' injections, used in the cardio vascular segment.

It is eyeing a 15-17 per cent market share in the segment in the first year of its operation.

"The total market size of the drug is around four lakh vials and we have enough capacity to meet the demand in the near future," Govindrajan said.

The company has tied with Lupin and Alembic for marketing the drug in India. It is also planning to launch another product through the same technology in Oncology therapeutic area.