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Sri Monashi Life Sciences Private Limited, a leading pharmaceutical company, today announced its plans to set up a state-of-the-art Bulk Drugs and Intermediates Manufacturing Unit at Pashamylaram, Sangareddy, Telangana. The project, with an annual production capacity of 868 MT, is expected to boost the pharmaceutical industry in the region and contribute to the country's self-reliance in critical drug manufacturing.
The establishment of the manufacturing unit is a significant step towards strengthening India's position as a global leader in pharmaceutical manufacturing. The project will help to reduce the country's dependence on imports of bulk drugs and intermediates, while also enhancing the availability of essential medicines.
The project is expected to have a positive impact on the economy of Telangana, creating employment opportunities and attracting further investments in the pharmaceutical sector. The state government has extended its support for the project, recognizing its potential to contribute to the region's economic development.
As on November 2023, The project is now in the stage of receiving approvals. The project has received all necessary clearances. By the end of the year 2023, development on the project will have begun.
News by Rahul Yelligetti
