Mankind Pharma to invest ₹150 cr in Paonta Sahib plant.

Delhi-based Mankind Pharma said it plans to invest ₹150 crore in its Paonta Sahib plant as well enhance its presence in the US in the next 18 months to generate revenue of $150 million from the international market by 2030.

The pharma major, which is targeting domestic revenues of ₹5,000 crore by the end of 2016, against ₹3,400 crore last year, announced in a release that it has been ranked fourth in the Indian market by IMS Health, a US-based healthcare information company. The company said it had logged 18 per cent growth and monthly sales of ₹240 crore of its over 1,000 brands across categories, such as antibiotics and antifungals.

RC Juneja, Chairman and Founder, Mankind Pharma, in the statement said: 'We are identifying overseas markets, have entered the cosmetics segment and are strengthening ourselves in the cardiovascular and anti-diabetic drug categories.'

HBL