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Chemo India Formulations, an arm of Spain-based Chemo Group, opened its first research and development (R&D) and manufacturing facility in India here on Wednesday.
Announcing this at a press conference today, Lucas Sigman, Managing Director of Chemo Group’s industrial division, said: "This is only the first step. We plan to invest more in India going forward.’’
According to Kurumaddali Kumar, Managing Director, Chemo India Formulations, the company had so far invested Rs 100 crore in setting up its first plant in India at the Genome Valley here.
"Apart from R&D, our plant will produce oral dosage forms, including tablets, caplets, hard gelatin capsules and pellets,’’ he said.
The plant, which has an initial headcount of 35 professionals, will cater to the global requirements of Chemo which now has 15 plants around the world employing 6,000 people.
"After two years of operation, we will take up phase II expansion with an investment of Rs 75-100 crore. Within four to five years, phase III expansion will also commence,’’ Kumar said. The focus markets for Chemo are Western Europe, North America and South America, among others.
The plant, which came up in a 5-acre plot, is equipped with latest technologies such as high sheer granulation, fluid bed granulation, direct compression and palletisation, he added.
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