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The acquired unit is expected to add about Rs 20 crore in revenue for 2008-09, said R K Baheti, director and president of finance.
“Our existing API (bulk drug) facilities are chock-a-block,” Baheti said, adding, “The objective is not to increase the top line immediately but to enable more filings, which will add to the top line in two-three years.”
The unit, which has the US Food and Drug Administration’s approval to export bulk drugs to that country will start contributing Rs 200-250 crore per year from 2008-09, he added.
Alembic already has two bulk drug making plants in Gujarat— one is FDA-approved in Panelav and the other in Vadodara, catering to the domestic market.
The company is also setting up a greenfield plant near Vadodara, which is expected to be completed by 2008-end, he said. Nirayu is a part of the promoter group of Alembic. Shares in Alembic were trading up nearly 1 per cent at Rs 98.35.
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