NEW DELHI, India (NNN-Bernama) --– India’s pharmaceutical company, Ranbaxy Laboratories Ltd today said it is setting up greenfield manufacturing facilities in Nigeria and Malaysia as part of efforts to boost its overall business.
"It's the company's strategy. We will be consolidating our position in the emerging markets and we have selected certain key emerging markets," its chief executive officer and managing director, Arun Sawhney said in a conference call with investors.
Malaysia, South Africa, Nigeria, Egypt and Morocco are among the strategic markets identified by the company.
"We can't just keep on growing manufacturing activities only in India. So there are certain strategic locations where we will have to take a decision," Press Trust of India reported, quoting Sawhney.
However, Sawhney did not disclose financial details about the plants to be set up in Nigeria and Malaysia.
The Malaysian plant, which is expected to be completed in 2014, will cater to the increased demand and exports to countries like Singapore and Thailand.
The capacity of the new plant would be about 2.5 billion doses per annum.
The Nigeria facility, which would be Ranbaxy’s second facility in the African nation, would be ready by December this year and production is likely to start from first quarter of 2012. -- NNN-BERNAMA
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