By: IPP Bureau
Last updated : September 09, 2021 9:20 am
The company plans to enter the formulation business in January 2022. It has also opened a branch in Hyderabad to trade pharmaceutical chemicals
Evexia Lifecare has chalked out plans to launch a slew of products from November this year. According to a statement released by the company, apart from ISOMETA API product, the company is also planning to manufacture intermediate mainly use as anti-diabetic and heart diseases at its Vadodara plant. The Research & Development (R & D) team has earmarked five products that will be launched.
The company is at an advanced stage of acquiring an existing plant of one of the manufacturers of ISOMETA API at Akola in Maharashtra.
The vision of the company is to enter into formulation by January 2022. The R & D team has already started work for the formulation plant looking into the opportunity and available market in India as well as across the globe.
The company has opened a branch at Hyderabad to trade in pharmaceutical chemicals and it is expected to contribute approximately Rs 25-30 crores to its turnover annually.
The funds for the expansion will be based on internal accruals and no external borrowings are required.