Drugmaker Anu's Laboratories Ltd (ALL) today said its Rs 63 crore new FDA compliant plant at Visakhapatnam would start operations in October this year.
Taking advantage of its edge on process development, the company plans to work on various processes and explore new export markets including regulatory markets with the coming up of new FDA plant at Vizag, a company statement said.
It also plans to expand the capacities in its existing units.
The company plans to raise Rs 250 crore for further expansion and acquisition of facilities and enhancement of business horizon, keeping in view the arising opportunities in bulk drug intermediates and APIs and exploring the opportunities in organic and inorganic growth.
The company Board has recommended the bonus shares in the ratio of 1:1, that is one bonus share for every one share held by the shareholders, and decided to take the approval from them (shareholders) for raising the fund.
ALL is engaged in the manufacture of quality drug intermediates.
The company's net profit increased to Rs 135.4 million in 2006-07 from Rs 5.4 million in 2003-04.
The company stands as a market leader in the production of DCFA, occupying 60 per cent of the market share, the statement said.
DCFA is an intermediate used in the production of Ciprofloxacin and has a competitive position in the production of other intermediates as well.
''Anu's Labs is successful in keeping Chinese competition at bay with its cost competitiveness and quality foothold,'' the statement added.