Unichem Laboratories to set up formulations facility in Himachal
By Nisha Das | 24 Sep 2003
Mumbai: Unichem Laboratories has decided to set up an additional formulation facility due to an increase in business and also to reduce its dependence on contract manufacturers.
The company has identified Baddi, Himachal Pradesh, as an ideal location for the new formulation-manufacturing unit as Unichem already has an existing formulation unit for the Betalactum range of formulations.
Unichem Laboratories chairman and managing director Dr P A Mody says the land required and the basic infrastructure for setting up the formulation unit is readily available in Baddi, near the company's existing plant.
The new unit will also enjoy 100-per cent income-tax exemption for the first five years and 30 per cent for another five years on the net profit generated by this unit.
Mody says Unichem is contemplating to enter the American generic market in the near future. It may go either for acquisition or joint venture to meet the needs of expanding in the overseas markets.
The company is also looking for acquiring a suitable active pharmaceutical ingredients (API) plant which can meet regulatory standards or else will set up an API plant on its own.
