Granules India board gives nod to set up subsidiary in Hyderabad.

Drug firm Granules India recently said its board has approved a proposal to set up a subsidiary in Hyderabad to build a greenfield facility for formulations business. "The Board of Directors at their meeting has approved to incorporate a wholly-owned subsidiary of the company in Hyderabad, India to build a greenfield facility for formulations business," Granules said in a regulatory filing.

The company, however, did not share more details.

ET