Ind-Swift starts operations at Rs 40 cr Baddi unit

Shimla, Apr 13 (UNI) Ind-Swift has started operations at its Rs 40 crore manufacturing facility at Baddi in Solan district of Himachal Pradesh for the manufacturing of tablets, injectibles and liquids.

Ind-Swift Director V K Mehta, in a release here, said the new unit would manufacture 180 crore tablets per annum, 12 crore ampoules per year, six crore vials per annum and 12 crore Syrups.

He said, the Baddi unit built as per the Food and Drugs Administration (FDA) standards would be inspected by the Australian-based Therapeutic Goods and Administration (TGA) and Medicines and Healthcare products Regulatory Agency (MHRA) of the UK and was eligible for the tax exemptions available to other industrial units set up at Baddi.

''We expect the new unit to generate an additional revenue of Rs 160-175 crore with 10-12 per cent net profit margins in next three years,'' he added.

Mr Mehta said, the company recently purchased seven acres of land in the tax free zone of Baddi for setting up a new formulation facility for manufacturing Oncology, Cephalosporin's, Beta Lactum, Herbal and Neutraceutical products.

With the commissioning of the Baddi project, the company would strengthen its position in the anti-bacterial, anti-diabetic, cardiovascular, hyperlipidemic, antifungal antihistamine, antidepressant, anti ulcers therapeutic segments, he said.

UNI AS CH BST2226