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Maakrupa Pharma is planning a new Active Pharmaceutical Ingredients (API) manufacturing facility in Pandesara, Surat, Gujarat. The project is still in the planning phase, but the company has already acquired land for the site and is obtaining the necessary permits. Cost of the project is 8 Crores.
The company anticipates beginning construction on the project at the beginning of 2023 and completing it by the end of 2024. The new facility will produce a variety of active pharmaceutical ingredients, including antibiotics, anti-inflammatory medications, and cardiovascular drugs. Maakrupa Pharma intends to export a substantial portion of the plant's output to its global markets. The expansion initiative is part of Maakrupa Pharma's plan to strengthen its position in the API market.
The company also intends to expand its capacity for formulations and completed dosage forms, among other pharmaceutical products. It is anticipated that the initiative will have a positive effect on the Indian pharmaceutical industry. It will generate employment and stimulate the local economy. The initiative will also help India become less reliant on imported APIs. In addition, the project is anticipated to assist Maakrupa Pharma increase its market share and expand its product portfolio.
As of September 2023, The project is now in the stage of construction being started the work on the project will be finished in 2024, 2025 or 2026 It has been decided to hire a local contractor.
News by Rahul Yeligetti
