Laurus Labs is planning to focus on formulations to derive significant revenue from the segment. In this regards, the company is investing Rs 300 crore in formulations and Active Pharmaceutical Ingredients (APIs) facilities in Visakhapatnam, out of which Rs 150 crore has already been spent. The remaining will be spent before the end of the current financial year.
Last month, Laurus had received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (US FDA) for its Finished Dosage Formulations (FDF) and API manufacturing plant, Unit 2, located at Achutapuram, Vishakhapatnam.
Laurus Labs is a leading research and development driven pharmaceutical company in India. The company has grown consistently to become one of the leading manufacturers of APIs for anti-retroviral (ARV) and Hepatitis C. It also manufactures APIs in oncology and other therapeutic areas.
