Natco is also awaiting regulatory approval for a product based on CTPR, which is a broad spectrum insecticide used in several crops
At a time when the pharmaceutical industry in the State are complaining lack of government support in the State, Hyderabad-based Natco Pharma is planning to expand its Active Pharmaceutical Ingredient (API) and intermediates manufacturing facility and R&D in Tamil Nadu. The company is looking at investing in its existing facility, in Thiruvallur District.The company would be investing around Rs 100 crore in addition to the existing investmenbt of Rs 86.82 crore in the facility to manufacture 16 campaign products at a time, out of 42 API products and R&D activity, with a production capacity of 66.32 tonnes per annum from existing production capacity of 46.267 tonnes per annum. The proposed expansion is in a total land of 10.57 hectre in possession of the company.According to an environmental impact assessment report submitted in connection with the expansion plan, the expansion is in order to meet the growing market demand for pharmceutical products in the country.The proposed .
Project is expected to employ 1,200 persons directly and 300 persons indirectly after the expansion
Clearance is subject to compliance of certain conditions; Project expected to create 1,500 jobs
Shares of Natco Pharma were trading 1.52 per cent up at Rs 909 on BSE
Revenue and profit growth was driven by the surge in formulation business, according to Natco
Hyderabad-based Natco Pharma Limited has reported a 69.7 per cent jump in its consolidated net profit at Rs 47.6 crore for the quarter ended June, on the back of an increase in revenue from formulations. The company's net profit was Rs 28.07 crore in the corresponding period last year.
The total income from operations in this 4th quarter doubled at Rs 406.97 cr from Rs 200.8 cr in the year ago period