|GSK Pharmaceuticals is undertaking a Rs. 500 crore upgradation of its unit in Nashik to expand its portfolio of thyroid and dermatology products.|
This investment is in addition to Rs. 1,000 crore investment for a greenfield plant in Bengluru announced last year.
"The plant in Bengaluru will be ready by 2017-end and will have a capacity for eight billion tablets and a billion capsules annually. The construction is being funded through internal accruals," said GSK Pharma's managing director A Vaideesh.
" Anti-infective drugs, gastrointestinal products are growing areas for us. Our vaccine business too is growing 50 per cent. We are focusing on respiratory and dermatology products," he added.
Vaideesh spoke to media on the sidelines of a Make in India event to encourage innovation and promote pharma sector in India.
V K Subburaj, secretary of department of pharmaceuticals said the government will release policy on bulk drugs within a month. The policy aims to boost production of active pharmaceutical ingredients which are now largely imported from China.
Subburaj added the government is also commiting Rs 500 crore each for a technology upgradtion fund to support small pharma units and setting up three additional National Institute of Pharmaceutical Education and Research's centres.