NSE-listed Balaxi Pharmaceuticals Ltd has commenced work on a formulation plant at Jadcherla in Telangana.
The facility, which is being taken up with an investment of Rs 85 crore, will help the company make a foray into the European markets.
It has roped in Spectrum Pharmatech Consultant Pvt Ltd to execute the project.
The facility will have the capacity to produce 1 billion tablets, 500 million capsules and 27 million liquid injections a year. The plant is expected to be operational by June 2024, a company statement said here.