Indoco will now have six facilities of finished dosages and 3 for APIs
Indoco Remedies recently acquired a Oral Soild Dosage (OSD) manufacturing facility of Micro Labs, a Bangalore-based company, at Baddi for an undisclosed amount.
The facility is spread over an area of 18000 sqm, out of which 11,000 sqm is the built-up area. It produces 4.3 billion tablets and 50 million capsules per annum. The facility will cater mainly to the regulated markets and the necessary approvals from the regulatory authorities will be obtained soon.
“This acquisition will expand our capabilities as well as capacities in manufacturing and will strategically help to further strengthen our footprint in international business. The acquisition will be funded through a mix of debt and internal accruals.”said Aditi Kare Panandikar, Managing Director of Indoco Remedies.
The acquired manufacturing site is close to Indoco’s existing manufacturing plant in Baddi, Himachal Pradesh. Baddi will thus be another manufacturing hub for Indoco’s solid dosages business in the regulated markets. With this acquisition, Indoco will now have 6 facilities for finished dosages and three for APIs. Out of these, three facilities are for finished dosages, including sterile plant and two facilities for API manufacturing are US FDA approved.