Alembic Pharmaceuticals is likely to start operations at its under-construction formulation plant in Sikkim within this fiscal, according to a Business Standard report. The Vadodara-based pharma company is reportedly investing Rs 100 crore in the new plant and is part of its strategy to take advantage of tax benefits offered in North Eastern state.
As per the government policy, units that would start production within 10 years of the notification which came in 2007, would be eligible for these benefits for the next 10 years.
The report also added that the company is planning to bring down outsourcing of manufacturing for the domestic market from a current 50 per cent to 15 per cent within two years of commissioning the facility, which will have a capacity of 2.5 billion tablets and capsules.
FOR COMPLETE REPORT READ: Alembic to commission Sikkim plant this fiscal
As per the government policy, units that would start production within 10 years of the notification which came in 2007, would be eligible for these benefits for the next 10 years.
The report also added that the company is planning to bring down outsourcing of manufacturing for the domestic market from a current 50 per cent to 15 per cent within two years of commissioning the facility, which will have a capacity of 2.5 billion tablets and capsules.
FOR COMPLETE REPORT READ: Alembic to commission Sikkim plant this fiscal