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To invest Rs 60 crore

MUMBAI: Pharma company Ipca plans to set up a new formulation facility in Sikkim at an investment of around Rs 60 crore, a senior company official said.

“We will soon be setting up our new formulation plant in Sikkim and it will be completed by end-2010,” Ipca's Vice-President (Strategic International Business Development), Mr Murali Sarma, said here.

The company has already acquired over five acres of land for the plant, Mr Sarma said.

Ipca has six formulation units and three Active Pharmaceutical Ingredients (API) plants, including the 100-acre API facility in Ratlam (Madhya Pradesh), which is accredited by WHO-Geneva and US-FDA, among others.

Ipca's major formulation manufacturing unit is at Athal in Dadra and Nagar Haveli with a capacity of eight billion tablets per year.

Ipca is vertically integrated and manufactures a broad range of anti-malarial APIs and formulations and also grows Artemisia annua crop. - PTI

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