Natco Pharma is planning an aggressive capex in Andhra Pradesh, Telangana and Tamil Nadu. The company is setting up a formulations facility in the Pharma City in Visakhapatnam which will be ready by the end of next year. In addition, the company will be expanding research and development facility, chemical manufacturing facilities in Telangana and Tamil Nadu besides formulation facility in Hyderabad.
Recently, the company received approval from the Foreign Investment Promotion Board (FIPB) to raise up to Rs 450 crore by issuing securities to Qualified Institutional Buyers. It had also given nod to a proposal for increasing foreign investment limit from 24 percent to 31.5 percent of the paid up equity share capital of the company.
Natco Pharma was promoted as a private company to be in the business of research, developing, manufacturing and marketing of pharmaceutical substances and finished dosage forms for Indian and International markets.
