India's Cadila Pharmaceuticals, based in the western city of Ahmedabad,plans to invest $30 million in a formulation facility in Dholka in two years, a company official revealed.
The official said Cadila will be an integrated health care company with decisions on formulations, bulk drugs, hospital products, herbal agents and plant tissue cultures taken by each segment functioning as independent strategic business units. Many new formulations are expected to be launched over the next two years, and 12 new bulk drugs by end-1997.
- Meanwhile, another Indian drug company, Sri Krishna Drugs Ltd, says it will raise its folic acid capacity from 10 tonnes to 15 tonnes per month, at a cost of 20 million rupees ($1.6 million). And company chairman V V Reddy said its folic acid plant in South India is being upgraded to comply with US regulatory guidelines, so products are acceptable there.
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