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Ranbaxy Malaysia Sdn Bhd (RMSB), a wholly owned subsidiary of Ranbaxy Laboratories on Thursday got the approval to set up a manufacturing facility in Malaysia as an entry point project (EPP).
The company will invest $40 million in this project that will provide employment to over 200 people. It will be Ranbaxy’s second manufacturing facility in Malaysia.
“In addition to serving the local market, the facility will also export products to markets such as Asean, West Asia, Europe, Sri Lanka, China and other select countries,” Arun Sawhney, Chief Executive Officer and Managing Director of Ranbaxy said.
He said the new facility will manufacture dosage forms including tablets and capsules in the cardiovascular, anti diabetic, anti-infective and gastrointestinal segments.
Ranbaxy’s total output in Malaysia will be increased from one billion doses per annum to three billion doses per annum when the new facility gets into full operation, he said.
RMSB is a joint venture company of Ranbaxy Laboratories, India and Malaysian shareholders. Established in 1982, it has facility in Sungai Petani, Kedah, Malaysia that was commissioned in 1987. It employs over 300 employees.
Ranbaxy’s shares closed at Rs 550.20 on Thursday on the Bombay Stock Exchange, down 2.01 per cent from the previous close.
ronendrasingh.s@thehindu.co.in
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