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Aurobindo Pharma on Thursday said its wholly-owned arm, CuraTeQ Biologics, plans to invest around Rs 300 crore on capacity expansion of biologics manufacturing facilities.
The board of directors of CuraTeQ Biologics Pvt Ltd, at its meeting held on Thursday, approved the expansion of its operations by establishing another mammalian cell culture manufacturing facility of higher capacity to cater to the future requirements, Aurobindo Pharma said in a regulatory filing.
"The capital expenditure for ramping up capacities is estimated to be around Rs 300 crore," it said, adding that the facility is likely to be fully operational by FY26.
Further, the board also approved entering into contract manufacturing operations (CMO) for biologicals for effective utilisation of capacities.
This would augment the business prospects in this area as the global biologics contract manufacturing demand is growing at 8-10 per cent and CuraTeQ will actively seek customers in CMO area, it added.
The company further said the board of its another wholly-owned subsidiary, Auro Vaccines Pvt Ltd, has also approved exploring possibilities to offer contract manufacturing service to global vaccine developers to effectively utilise its existing manufacturing capacity.
Auro Vaccines is engaged in the business of developing and manufacturing vaccines biologicals.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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First Published: Thu, September 01 2022. 22:10 IST