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news.Parabolic Drugs, a Chandigarh, India-based API (Active Pharmaceutical Ingredients) and API intermediate manufacturing and marketing company, is set to foray into the Indian CRAMS (contract research and manufacturing services) sector with new manufacturing facilities.
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Parabolic Drugs intends to add capacity at its plant in Derabassi and establish new facilities in Chachrauli and Panchkula, with a plan to use the latter for custom synthesis, reported in-PharmaTechnologist.
Parabolic Drugs will fund the construction project with the proceeds of an IPO opened on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Pranav Gupta, MD of Parabolic, said: “The focus of the company going forward is CRAMS. We have commissioned a large CRAMS facility earlier focusing on the global innovator companies. We are getting a lot of visibility there and [a] large part of the proceeds are going to be invested in putting up another CRAMS facility,” reported the online news service.