The Nagpur facility is intended to export formulations to developed markets like US, Europe, Japan and along with other key emerging markets.
The new formulation plant is expected to be operational in 2013.
Lupin group president and executive director Nilesh Gupta said, "The strategic investment in the new formulation facility at MIHAN is not only in keeping with the consistent growth that Lupin has witnessed across key markets like the U.S. but it would also ensure that our manufacturing capacities are attuned to future demand."
Currently, Lupin operates 11 manufacturing facilities across India and Japan.