Anu's Lab plans to raise $20 Mn for pharma unit at Visakhapatnam

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Mumbai: Hyderabad based drug intermediates manufacturer, Anu's Laboratories, plans to raise $20 million to set up a new pharma unit at Visakhapatnam in Andhra Pradesh. "We will be manufacturing products like deltiazem, pentoxyfiline, ciprofloxacin, rexofenadine, iopamidol and naproxen at our Vizag unit, which will help us in maintaining our profit margins of around 11 percent," said Anu's Labs' Managing Director, K Hari Babu.

The company's existing manufacturing facility at Shadnagar near Hyderabad has a 2,000 tonnes per annum capacity to manufacture drug intermediates. It has an over 60 percent domestic market share of Dichloro Fluoro Acetophenone (DCFA), a key intermediate used in the manufacture of Ciprofloxacin. It is also one of the largest manufacturers globally of DCFA.

The company's clientele includes Dr Reddy's Laboratories, Matrix Laboratories, Aurobindo Pharma, Neuland Laboratories and Divi's Laboratories. The company's state-of-the-art R&D facilities, located at Balanagar, Hyderabad, support the process of product development, contract research and customized synthesis programs of the organization.

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