Neuland Laboratories Ltd has opened a new manufacturing facility as part of its collaboration with Tokyo-based API Corporation at its existing factory complex at Pashamylaram here.

This was the first manufacturing unit of APIC, a healthcare unit of Mitsubishi Chemical Holdings Group, outside Japan. The Hyderabad-based Neuland had entered into an agreement with APIC last to construct and operate the facility to meet the needs of its customers for pharmaceutical APIs and intermediates.

"This facility will benefit our growing customer base by rapidly increasing our capacity to deliver high quality, competitively-priced APIs and intermediates in partnership with Neuland,’’ Kiyoshi Kondo, President and CEO of APIC, said in a statement.

According to DR Rao, Chairman and Managing Director, Neuland Labs Ltd, the partnership would raise Neuland’s profile as a quality supplier of APIs and intermediates to the Japanese market. Neuland’s scrip had ended almost flat at Rs 254.25 on the Bombay Stock Exchange on Wednesday.

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