The plant, to be built in the Incheon Free Economic Zone in Songdo, Incheon, will be a facility for the manufacture of products such as sterile bags, cell culture media and membrane filters
The funds raised through the issue will be utilised to meet the working capital requirements to fund the company's expansion plans, entering new geographies and for general corporate purposes
Expanded capacity in Nansha, China will support mid-scale manufacturing to ensure a smooth transition between early-phase and large-scale commercial production
With this QIP placement, the Dhanuka group, which took over the company in 2018, is also meeting its mandatory obligation to dilute 15 percent stake in the company by March 2023
This is the second line opened this year for parenteral drug product clinical and commercial manufacturing, with an annual capacity of 10 million units
The pharma laboratory is fully equipped with all the machinery needed to support formulation development, resolve technical challenges, and provide customer demonstrations
In fact, the overall CPHI Pharma Index – a collateralised metric of all major ranking categories – has risen by more than 8%, the largest year-on-year gain in the survey’s six year history
The new production line is equipped with the latest advanced manufacturing system to produce quality products of Alkaloids & APIs used in a wide range of pharmaceutical applications
Q2 FY23 business performance has been slow primarily due to lower volume offtake from pharmaceutical manufacturers
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