Oral anti-diabetic drug maker USV Pvt Ltd. recently announced fresh investment of Rs. 400 crore on a new state-of-art formulations plant at Vadodara.

The investment announcement comes on the back of recent government measure to reduce corporate tax. It is believed to increase capital spending and generate employment in the pharmaceutical sector.

Company's Managing Director Prashant Tewari, commented, “The construction for the new facility at Vadodara will start as early as October 2019, with an initial capital investment of around Rs. 400 crore. The facility will provide employment to more than 350 people, despite being a very highly automated plant. The company will manufacture its leading drugs in diabetes and hypertension segments in this facility. The plant will supply to both the domestic and export markets.”

The company has three plants based at Daman and Baddi manufacturing tablets, capsules: sterile injectables and ophthalmic products, one API plant at Chiplun and biotechnology facility in Nerul Mumbai.

USV is consolidating on its leadership in the diabetes segment and also leveraging on the Government’s corporate tax rate cut.

The Vadodara facility will have well-designed programs around skill development and training of manpower.

The company is separately investing in a new Active Pharmaceutical Ingredient (API) plant at Ambernath. The financials for the project were not revealed by the company.

here is company details.

 

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