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news.India-based Torrent Pharmaceuticals is all set to commission INR1.25bn ($28m) facility in Sikkim, India, within the first quarter of next fiscal.
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The formulations facility will produce 3 billion tablets and capsules per annum, which will boost the company’s formulation capacity to nearly10 billion tablets.
Torrent’s domestic formulations business grew by 17% last quarter, while sales outside India jumped 19%, and Torrent now plans to enter the UK and Romania markets shortly
The company has also started work on its facility in Dahej, India, which will manufacture 8.5 billion formulations and 40 million tonnes per annum of API.
Torrent’s Dahej facility, which a 50:50 joint venture between the Gujarat Industrial Development Corporation (GIDC) and ONGC, is coming up with an investment of INR3.5bn ( $75m).
Torrent is planning to sell products to the regulated markets like the US from the Dahej facility, which is expected to be functional in 2012.