Ajanta Pharma earmarks Rs 250 cr capex
The company had earmarked a capex plan of Rs 150 crore for 2019-20 fiscal.
New Delhi: Drugmaker Ajanta Pharma has lined up a capex plan of Rs 250 crore for the current fiscal as it looks to expand its corporate office and production facilities, a top company official said.
The drugmaker operates eight manufacturing facilities in India and Mauritius, including two plants that have been approved by the US Food and Drug Administration (USFDA).
“During the current year (FY22), we are estimating the capex to be in the vicinity of Rs 250 crore. It will largely go towards maintenance and some new expansions for the corporate office and some key expansions in the facility,” Ajanta Pharma Managing Director Yogesh Agrawal said in an analyst call.
The company had earmarked a capex plan of Rs 150 crore for 2019-20 fiscal.
Agrawal noted that Rs 30 crore was invested in the expansion of the corporate office last year, and this year it is going to be in the range of Rs 60-80 crore.
Ajanta Pharma currently employs over 7,000 people worldwide and its products are sold in over 30 countries, including in the US — the world’s largest market for pharmaceutical products.
When asked about the company’s business plans in the US, Agrawal said: “As you know, last year it was a very hard lockdown, so because of that the R&D was shut for five months and that is the reason we see those reflecting in the abbreviated new drug application (ANDA) filings for the current year or rather last year. But we believe we have made good progress during the last 5-6 months.
ANDA filings will pick up in the current year and it would try to come as close to the target of 10 to 12 per year, Agrawal said.
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